Answer:
A) True
Step-by-step explanation:
A corporation is a distinct and separate legal entity from its owners. It enjoys commercials' rights and has obligations, just like a person does. Corporations transact business, can enter a contract, borrow money, sue, or be sued.
The most salient feature of a corporation is that its owners have limited liability. It means that the owners of a corporation are liable for its obligation up to the extent of their capital contribution. If a corporation is unable to meet its debts, the personal properties of its owners can not be attached to the liabilities.
Many corporations outlive their founders. The most famous companies were incorporated decades ago. A corporation is often described as a legal person. Its lifespan is not dependent on the lives of its owners.