Question

Which of the following statement is correct

a. eleemosynary corporation is one established for business or profit
B. Corporation aggregate is one established for religious purposes
C. Civil corporation is one established under the laws of the Philippines
D. Lay corporation is one established for the purposes other than religious

Answer 1

A corporation is a business structure that provides protection from liability to individual owners. Different types of corporations can be established for different purposes, such as civil, lay, or eleemosynary.

Step-by-step explanation:

A corporation is a business structure that provides protection from liability to individual owners, as the company is legally seen as its own entity. A civil corporation is one established under the laws of the Philippines. A lay corporation is one established for purposes other than religious. An eleemosynary corporation is one established for charitable or non-profit purposes.