Final answer:
The owner of a corporation is protected by limited liability, which insulates their personal assets from the company's debts and liabilities. In contrast, a sole proprietor and a general partner have unlimited liability, meaning they are personally responsible for the business's debts and liabilities. So, the best answer is 3, Owner of a corporation.
Step-by-step explanation:
The owner of a corporation is protected by limited liability.
This means that they are only financially responsible for the amount of their investment in the company and are not personally responsible for the company's debts and liabilities.
On contrast, a sole proprietor is personally responsible for all debts and liabilities of the business, as it is not a separate legal entity.
A general partner in a partnership also has unlimited liability for the debts of the business.
Corporations provide the most protection to owners from personal liability and allow entrepreneurs to take risks without the fear of losing personal assets.
However, this does not imply corporations do not have other forms of accountability; they are still subject to corporate governance and regulatory oversight.
So, the best answer is 3, Owner of a corporation.