Practice mode Finance

What is a legal entity that is separate from its owners and managers and created under state law called?

Correct answer D. Corporation

Explanation

A corporation is chartered under state law as a distinct legal person, so it can own assets, sign contracts and be sued independently of its shareholders.

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What is a legal entity that is separate from its owners and managers and created under state law called?

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What is a legal entity that is separate from its owners and managers and created under state law called?

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