USA HISTORY

WESTWARD EXPANSION INDUSTRIALIZATION URBANIZATION 1870 1900

SECOND INDUSTRIAL REVOLUTION

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Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]

These are entities that separate the owners from the legal obligations of a company?

A	businesses
B	grocery stores
C	non-profit
D	Corporations

Explanation:

Detailed explanation-1: -A separate legal entity (SLE) is an organisation recognised by law and has its own rights and obligations, and SLEs include limited liability partnerships and corporations. Its owners are considered shareholders, which makes it a distinct legal entity.

Detailed explanation-2: -Any company is set up as an SLE to legally separate it from the individual or owner, such as a limited liability company or a corporation. 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.

Detailed explanation-3: -A separate entity is a business that is separate legally and financially from its owner or owners.

Detailed explanation-4: -Limited Liability Partnership (LLP) It is a separate legal entity, having a distinct entity of its own separate from its members.

There is 1 question to complete.