Question

1. a type of business organization that is treated as a legal person and whose owners (shareholders) enjoy limited liability is a

partnership
corporation
sole proprietorship
none of the above

Explanation:

A corporation is a legal entity separate from its owners (shareholders). Shareholders have limited liability, meaning their personal assets are protected from the corporation's debts. In a partnership, partners have unlimited liability. In a sole proprietorship, the owner has unlimited liability.

Answer:

B. corporation