For a business to be considered a corporation,it must:
A)be owned by an extremely large number of people.
B)be organized as a separate legal entity.
C)sell publicly traded shares.
D)all of the answers are acceptable.

Question

Quizplus · Accepted Answer

To be considered a corporation, a business must be organized as a separate legal entity. While selling publicly traded shares is a common characteristic of corporations, it is not a requirement. Being owned by a large number of people is also not a requirement as there are many small corporations that are owned by just a few individuals. Therefore, the best choice is B.

For a Business to Be Considered a Corporation,it Must