company 1: one person is liable for all debts and expenses\ncompany 2: two or more people share equally in…

company 1: one person is liable for all debts and expenses\ncompany 2: two or more people share equally in profits and losses\ncompany 3: a separate legal entity, which is owned by shareholders\ncompany 4: owned by and operated for the benefit of those using its services\n22\nwhich of the above companies could be considered a corporation?

company 1: one person is liable for all debts and expenses\ncompany 2: two or more people share equally in profits and losses\ncompany 3: a separate legal entity, which is owned by shareholders\ncompany 4: owned by and operated for the benefit of those using its services\n22\nwhich of the above companies could be considered a corporation?

Answer

Brief Explanations:

A corporation is a separate legal entity owned by shareholders. Company 1 describes a sole - proprietorship, Company 2 describes a partnership, and Company 4 describes a cooperative. Only Company 3 meets the definition of a corporation.

Answer:

Company 3