Examlex
The compound HClO is called ________.
Corporation
A legal entity that is separate from its owners, with the ability to own assets, incur liabilities, and conduct business.
Unlimited Liability
A legal structure in which the owners are personally liable for all the debts and liabilities of the business, without any limit.
General Partnership
A business arrangement where two or more individuals agree to share in all assets, profits, and financial and legal liabilities of a jointly-owned business.
Corporation
A legal entity created by individuals, stockholders, or shareholders, with the purpose of operating for profit. Corporations can enter contracts, sue and be sued, and pay taxes apart from their owners.
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