A Corporation Is the Type of Business Has ________ Government

question 113

Multiple Choice

A corporation is the type of business has ________ government rules and regulations affecting it.

• A)no
• B)the fewest
• C)the most
• D)only federal

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Definitions:

Unincorporated Business Associations

Groups or partnerships operating a business without forming a legal corporation, thus not enjoying the benefits or protections of corporate status.

Duty Of Obedience

An obligation to act in accordance with the directives or policies of an organization, typically refers to nonprofit boards or similar entities.

Personally Liable

The responsibility of an individual to fulfill debt or obligations from their own assets, rather than those of a corporation or entity.

Gross Returns

The total return on an investment before any deductions are made for costs or fees.