A Business Created as a Distinct Legal Entity and Treated

question 63

Multiple Choice

A business created as a distinct legal entity and treated as a legal "person" is called a:

• A)corporation.
• B)sole proprietorship.
• C)general partnership.
• D)limited partnership.
• E)unlimited liability company.

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Definitions:

Start-up

A newly established business, often in the early stages of development and focusing on a unique product or service.

Profit Shares

Refers to the portion of a company's profits distributed to its shareholders or used as an incentive mechanism for employees.

Technological Breakthrough

A significant innovation or discovery that dramatically advances a field or industry.

Nuclear Energy

A form of energy produced through nuclear reactions, such as in nuclear fission or fusion, often used for generating electricity.