A(n)________ is a legal structure for organizing a business where the organization is a distinct and separate entity from its owners.

Question

Quizplus · Accepted Answer

A corporation is a legal structure that distinguishes the business entity from its owners. This means that the business can enter into contracts, sue or be sued, own assets, hire employees, and pay taxes without directly involving the owners. The owners (shareholders) have limited liability and are not personally responsible for the debts and obligations of the corporation beyond their investment in the company.

A(n)________ Is a Legal Structure for Organizing a Business Where