Of the legal forms of organizations discussed in chapter 1, which form of organization has the advantage of limited liability for all owners?

Question

Social Studies

Dayanara

13 February, 04:43

Of the legal forms of organizations discussed in chapter 1, which form of organization has the advantage of limited liability for all owners?

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Answers (1)

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Nadia Hammond · Answer 1

A corporation

Explanation:

A corporation is a form of business operation that declares the business as a separate, legal entity guided by a group of officers known as the board of directors. The four main types of corporation in the United States are; C corporations, S corporations, Limited Liability Companies (LLCs) and Nonprofit Organizations.

The advantages of corporation include limited liability for its shareholders, a perpetual existence and ease of transferring ownership interests.