Which form of business organization is established as a legal entity separate from its owners?

Question

Quizplus · Accepted Answer

A corporation is established as a separate legal entity from its owners, meaning it can enter into contracts, own assets, and be held liable for its own debts and obligations. This distinguishes it from sole proprietorships and partnerships, where the business and its owner(s) are considered to be one and the same for legal and tax purposes.

Which Form of Business Organization Is Established as a Legal