Which of the following is a legal entity created by permission of a provincial or federal government?
A) corporation
B) general partnership
C) limited partnership
D) sole proprietorship

Question

Quizplus · Accepted Answer

A corporation is a legal entity created by permission of the government either provincial or federal, which binds the corporation as a distinct legal person, responsible for its debts and obligations. General partnerships, limited partnerships, and sole proprietorships are not created by permission of the government and have different legal structures.

Which of the Following Is a Legal Entity Created by Permission