brittanymaertinez brittanymaertinez

17-07-2024
Business

Answered

Which of the following definitions best describes a business entity?

A. A corporation, association, or partnership
B. The current version of the NAIC uniform business entity application for resident or nonresident entities
C. Any individual authorized to sell insurance
D. Any insurance company authorized to transact insurance

Answer :

GinnyAnswer GinnyAnswer

17-07-2024

Final answer:

A corporation is a separate legal entity that provides liability protection to individual owners.

Explanation:

Business entity is best defined as a corporation, which is a separate legal entity that provides protection from liability to individual owners. This structure allows businesses to exist independently from their owners, enabling them to engage in business activities without bearing personal legal consequences.

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