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Among the following,identify the correct statement about a boiling liquid:
Corporation
A legal entity distinct from its owners, offering limited liability to its shareholders, and capable of owning assets, incurring debt, and conducting business.
Partnership
A formally established business entity where two or more counterparts participate in managing the firm and splitting the profits.
Proprietorship
A form of business organization where a single individual owns and operates the business.
Liabilities
Financial obligations or debts owed by a business to another entity, payable in money, goods, or services.
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