Which Business Organization Is Recognized as a Separate Legal Entity

question 112

Multiple Choice

Which business organization is recognized as a separate legal entity under the law?

• A)Corporation.
• B)Sole proprietorship.
• C)Partnership.
• D)All business organizations are separate legal entities.

---

Definitions:

Vendor Transactions

Financial exchanges or dealings that occur between a business and its suppliers or service providers.

Expense

Money spent or cost incurred in an organization's efforts to generate revenue, representing the cost of doing business.

Check

A written, dated, and signed instrument that directs a bank to pay a specific sum of money to the bearer.

Accounts Payable

The amount of money owed by a company to its creditors for goods and services received but not yet paid for.