Asked by
James Lahrman
on Dec 18, 2024
Verified
Under which of the following types of business organization is the ownership transferable to another person?
A) Sole proprietorship, general partnership, limited liability company, and corporation.
B) General partnership, limited liability company, and corporation, but not sole proprietorship.
C) Limited liability company and corporation, but not sole proprietorship or general partnership.
D) Corporation, but not sole proprietorship, general partnership, nor limited liability company.
E) Corporation and general partnership, but not sole proprietorship nor limited liability company.
Ownership Transferable
A characteristic of property rights or shares that allows them to be passed from one individual or entity to another.
Limited Liability Company
An enterprise structure that fuses the tax handling advantages of partnerships or sole proprietorships with the limited liability feature of corporations.
Corporation
A legal entity that is separate and distinct from its owners, who are shareholders. Corporations enjoy many of the rights and responsibilities that individuals possess.
- Distinguish between various business entities regarding formation, operation, and dissolution.
Verified Answer
JM
Learning Objectives
- Distinguish between various business entities regarding formation, operation, and dissolution.