Unlike sole proprietorship and partnerships,the corporation has a life independent of its owners and officers.

Question

Quizplus · Accepted Answer

Corporations are separate and distinct legal entities that can exist independently of their owners and officers. They have their own rights and responsibilities, can buy and sell property, enter into contracts, and sue or be sued. In contrast, sole proprietorships and general partnerships are not separate legal entities, and the business itself is not distinct from its owners.

Unlike Sole Proprietorship and Partnerships,the Corporation Has a Life Independent