Question

Gerrilyn works for a business firm that manufactures breakfast cereal. The firm is owned by many individuals who are not personally responsible for any debts or losses incurred by it. Legally, the firm is considered a separate artificial person. In this scenario, Gerrilyn is working for a _____.

a) Corporation
b) Sole Proprietorship
c) Partnership
d) Cooperative

Answer 1

Gerrilyn is working for a corporation, which is a type of business entity that is considered a separate artificial person in the eyes of the law.

Step-by-step explanation:

In this scenario, Gerrilyn is working for a corporation. A corporation is a type of business entity that is considered a separate artificial person in the eyes of the law. It is owned by many individuals, known as shareholders, who are not personally responsible for any debts or losses incurred by the corporation. This legal structure provides limited liability protection to the shareholders.