Question

fill in the blank question

a major advantage of the corporate form of ownership is blank legal liability. (enter one word per blank.)

Explanation:

Identify the key characteristic of corporate ownership

The question asks for a major advantage of the corporate form of ownership regarding legal liability.

Determine the correct term

Corporations offer owners (stockholders) protection where their personal assets are not at risk for the corporation's debts. This is known as limited liability.

Answer:

A major advantage of the corporate form of ownership is <blank>limited</blank> legal liability. (Enter one word per blank.)