Asked by Matias Morales on Jul 18, 2024
Verified
The concept of an "artificial being" refers to which form of business organization?
A) Partnership
B) Sole proprietorship
C) Corporation
D) Limited partnership
Artificial Being
A legal entity, not a natural person, created by law and recognized as having rights and duties.
Corporation
A corporation is a legal entity separate from its owners, offering limited liability protection, and has the ability to raise capital through the issuance of shares.
Business Organization
The structure and form that a business takes to conduct operations, ranging from sole proprietorships to corporations.
- Gain an understanding of the distinguishing features and varieties of corporations.
Verified Answer
HY
Hadeel YousefJul 22, 2024
Final Answer :
C
Explanation :
The concept of an "artificial being" refers to a corporation, which is a legal entity created under state law that is separate from its owners and can enter into contracts, own property, and sue or be sued. The other options do not refer to this concept.
Learning Objectives
- Gain an understanding of the distinguishing features and varieties of corporations.