Question

multiple choice question
the general term for an entity that is separate from its owners and thus has its own legal rights is a(n)
o limited partnership
o sole proprietorship
o corporation
o general partnership

Explanation:

A corporation is a legal entity that is separate from its owners (shareholders). It has its own legal rights and can enter into contracts, sue or be sued, etc. A limited partnership has general and limited partners, but it's not as distinct a legal entity as a corporation. A sole proprietorship is not a separate legal entity from the owner. A general partnership also lacks the full - fledged separate legal entity status like a corporation.

Answer:

corporation