GK
BUSINESS ECONOMICS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Which type of business organization is managed by a Board of Directors?
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Sole Proprietorship
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Partnership
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Government
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Corporation
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Explanation:
Detailed explanation-1: -Unlimited life – Stockholders, shareholders, or members are the owners of a corporation, and it is managed by a board of directors.
Detailed explanation-2: -Shareholders are actual owners of a corporation, while the board of directors manages the corporation. The law acknowledges a corporation as a completely separate, legal entity.
Detailed explanation-3: -An overview of the four basic legal forms of organization: Sole Proprietorship; Partnerships; Corporations and Limited Liability Company follows.
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