Question

Of the legal forms of organizations discussed in chapter 1, which form of organization has the advantage of limited liability for all owners?

Answer 1

A corporation

Step-by-step explanation:

A corporation is a form of business operation that declares the business as a separate, legal entity guided by a group of officers known as the board of directors. The four main types of corporation in the United States are; C corporations, S corporations, Limited Liability Companies (LLCs) and Nonprofit Organizations.

The advantages of corporation include limited liability for its shareholders, a perpetual existence and ease of transferring ownership interests.