The correct answer is: A. Corporation
A corporation is an artificial being created by operation of law, having the right of succession and the process, attributes and properties expressly authorized by the law or incident to its existence.
A corporation is a legal entity that is separate from its owners. This means that a corporation can own property, enter into contracts, and sue and be sued. Corporations are also subject to their own set of laws, which are different from the laws that govern individuals.
There are many different types of corporations, but they all share some common features. First, corporations are created by filing a document with the state in which they will be incorporated. This document, called a charter, sets forth the name of the corporation, its purpose, and its structure. Second, corporations are owned by shareholders. Shareholders are the people who own shares of stock in the corporation. Third, corporations are managed by a board of directors. The board of directors is responsible for overseeing the management of the corporation and making sure that it complies with the law.
Corporations play an important role in the economy. They provide jobs, create products and services, and contribute to economic growth. Corporations also play a role in society. They support charities, fund research, and provide educational opportunities.
Here are brief explanations of the other options:
- Property is a legal concept that refers to anything that has value and can be owned. Property can be tangible, such as land or a car, or intangible, such as a patent or copyright.
- Partnership is a business arrangement between two or more people who agree to share the profits and losses of the business. Partnerships are governed by the Uniform Partnership Act, which is a set of laws that have been adopted by most states.
- Organization is a group of people who come together for a common purpose. Organizations can be formal, such as corporations or nonprofits, or informal, such as a club or a social group.