Which Business Organization Is Recognized as a Separate Legal Entity

question 97

Multiple Choice

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

• A) Corporation.
• B) Sole proprietorship.
• C) Partnership.
• D) All three.

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Definitions:

Total Revenue

Total revenue is the total amount of money received by a company for goods sold or services provided during a specific period.

Competitive Firm

A company operating in a market where there are many buyers and sellers, each with negligible impact on market prices and conditions.

Profit-maximizing

The process of adjusting production and operational variables to achieve the highest possible profit margins.

Vertical Distance

The measure of the difference in height between two points, often used in mathematics and geography.