A legal entity that may conduct business in its own name just as an individual does is a(n)

Question

Quizplus · Accepted Answer

A corporation is a legal entity that has the ability to conduct business in its own name and has the same legal rights and responsibilities as an individual. It is a separate legal entity from its owners and can enter into contracts, own property, and sue or be sued. Proprietorships and partnerships are not separate legal entities and their owners are personally liable for the debts and obligations of the business. An entrepreneur is an individual who starts and runs a business.

A Legal Entity That May Conduct Business in Its Own