A corporation is a legal entity: a. created by local ordinance. b. created by an agency regulation. c. created by state statute. d. that naturally occurs when two or more people do business.

Question

Social Studies

Gwendolyn Richardson

13 February, 10:18

A corporation is a legal entity: a. created by local ordinance. b. created by an agency regulation. c. created by state statute. d. that naturally occurs when two or more people do business.

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Julissa · Answer 1

c. created by state statute.

Explanation:

A corporation is a legal form of business entity which is distinct from its owner. It is also called "legal person" because it has the power like a person and it can enter in contract, pay taxes, make contracts and even get sued for legal obligations. They are formed legally by registering as a statute by a government agency. A group of stakeholders jointly holds the ownership of a corporation for a common purpose mainly profit.