MANAGEMENT

Detailed explanation-1: -A company is a legally distinct entity. The company registers with the state and uses transactions and ownership documentation to keep its operations distinct. Small companies, professional companies, and personal service companies are all different sorts of companies.

Detailed explanation-2: -A corporation, sometimes called a C corp, is a legal entity that’s separate from its owners. Corporations can make a profit, be taxed, and can be held legally liable.

Detailed explanation-3: -After registration a co-operative enterprise becomes a body corporate independent of its members i.e. a separate legal entity. Registration of a co-operative enterprise is compulsory.

Detailed explanation-4: -A corporation is a legal entity that is separate and independent from the people who own or run the corporation, namely shareholders. A corporation has the ability to enter into contracts separate from that of the shareholders, but it also has certain responsibilities such as the payment of taxes.

Detailed explanation-5: -The legal status of a partnership can be defined as follows: It is not a separate legal entity from the business owners. The partners are personally liable for all the debts and losses of the partnership. It can sue or be sued in the partners’ names.