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Which one of the following types of businesses has the least amount of personal liability?

A. Partnership B. Sole proprietorship C. Close corporation D. Corpo...

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Which one of the following types of businesses has the least amount of personal liability?

A. Partnership B. Sole proprietorship C. Close corporation D. Corporation

Answer

D. CORPORATION has the least amount of personal liability.
A CORPORATION is a company or group of people authorized to act as a single entity (legally a person) and recognized as such in law.
Because a corporation is identified as a separate legal entity, owners of the corporation has limited amount of legal liability for the corporation's business activities and debts.

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Virtual Teaching Assistant: Colleen R.
Question Level: Basic
Karma: Free
Upload Date: 5/31/2017

This 25 words question was answered by Colleen R. on StudySoup on 5/31/2017. The question contains content related to Business Since its upload, it has received 188 views.

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