INTRODUCTION TO ENTREPRENEURSHIP
DEFINITION OF ENTREPRENEURSHIP
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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This is a legal entity owned by stockholders and operated by a board of directors It operates as a separate legal entity apart from the owners.
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Partnership
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Corporation
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Franchise
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Sole Proprietorship
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Limited Liability Company
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Explanation:
Detailed explanation-1: -A business organized as a separate legal entity owned by stockholders is a corporation.
Detailed explanation-2: -If a business is a separate legal entity, it means it has some of the same rights in law as a person. It is, for example, able to enter contracts, sue and be sued, and own property. A sole trader or partnership does not have a separate legal entity.
Detailed explanation-3: -Independent entity means a company with experience in conducting corporate elections. No official or senior management official of the credit union, or the immediate family member of any official or senior management official, may have any ownership interest in, or be employed by, the entity.
There is 1 question to complete.