Question

A(n) ___________________ is a state-chartered legal entity with authority to act and to have liability separate from its owners. A. limited partnershipB.conventional corporationC. unlimited partnershipD. nonprofit organization

Answer 1

Answer:

conventional corporation

Explanation:

A conventional corporation (or C-corp) refers to an entity's legal framework wherein investors or shareholders get taxed individually from the company. Such companies are also prone for corporate income taxes, the most predominant among corporations. The taxation of company earnings is at the corporate and private rates, creating an environment of dual taxation.

Simply put, conventional companies restrict investors ' and company owners ' financial risk, as all they can lose in a failed business is the sum they have engaged in it. These companies are required to conduct annual meetings and also have an executive board that stakeholders vote on.