Examlex
Which of the following is a characteristic of formal reports?
Corporation
A legal entity that is separate and distinct from its owners, offering limited liability protection and the ability to raise capital through issuing shares.
Partnership
A legally recognized arrangement in which two or more persons co-manage a business and distribute its profits among themselves.
Sole Proprietorship
A business owned and operated by a single individual, with no legal distinction between the owner and the business.
Bankruptcy
A legal status of a person or entity that cannot repay debts to creditors and seeks relief through court proceedings.
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