BUSINESS ADMINISTRATION
BUSINESS ECONOMICS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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A form of business owned by two or more people who share management and profits.
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A business owned by one person
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An authorization granted by a government or company to an individual or group that allows them to sell a company’s products under the company name
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A form of business that declares the business as a separate, legal organization led by a group of officers known as the board of directors; often owned by stockholders
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Detailed explanation-1: -A corporation is a business entity that is owned by its shareholder(s), who elect a board of directors to oversee the organization’s activities. The corporation is liable for the actions and finances of the business – the shareholders are not.
Detailed explanation-2: -A corporation is a form of business operation that declares the business as a separate, legal entity guided by a group of officers known as the board of directors.
Detailed explanation-3: -Corporations. A corporation is considered by law to be a unique entity, separate from those who own it. A corporation can be taxed, sued and enter into contractual agreements. The corporation has a life of its own and does not dissolve when ownership changes.
Detailed explanation-4: -Corporations. A Corporation, chartered by the state in which it is headquartered, is considered by law to be a unique entity, separate and apart from those who own it. A Corporation can be taxed; it can be sued; it can enter into contractual agreements.