The corporate form of business

(A) was first allowed in the State of New York around 1811 and is considered to be an American creation.

(B) was first known and used by the Greeks and then spread through the Romans to England.

(C) was not known until the advent of the Industrial Revolution.

(D) is a relatively new concept developed shortly after the Great Depression.

Question

Business

Harmony Walsh

26 September, 00:08

The corporate form of business

(A) was first allowed in the State of New York around 1811 and is considered to be an American creation.

(B) was first known and used by the Greeks and then spread through the Romans to England.

(C) was not known until the advent of the Industrial Revolution.

(D) is a relatively new concept developed shortly after the Great Depression.

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Answers (1)

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Garrett Adams · Answer 1

Answer: (B) was first known and used by the Greeks and then spread through the Romans to England.

Explanation:

A corporate business is a type of business that operates as a legal entity, but run by board of directors.

A legal entity in this context mean the business can legally sue and be sued, incur debts, pay debts, enter into agreement or contracts.

A corporate business is viewed as an individual with legal rights except for some few limitations.

Few advantages of a corporate business includes:

• Raising money: money can be raised through issuing of stocks, selling shares, in order to allow expansion.

• Transfer of ownership: the business can be sold or passed to another under proper documentation.

•It is a life business: meaning the business can outlive their original founders.

The first American corporate business started in the 1970s