Asked by Jennifer Feliz on Jul 21, 2024
Verified
A corporation owned by a single person is treated under the law as the same entity as that person.
Single Person
A single person typically refers to an individual not in a marital or committed relationship, often used in demographic and legal contexts.
Same Entity
Refers to a single organization or company, implying that different parts or aspects being discussed are all components of the same whole.
- Comprehend the repercussions of a company's citizenship and its legal standing.
Verified Answer
OL
Othniel londonJul 26, 2024
Final Answer :
False
Explanation :
A corporation, even if owned by a single person, is legally considered a separate entity from its owner, providing limited liability and distinct legal rights and obligations.
Learning Objectives
- Comprehend the repercussions of a company's citizenship and its legal standing.