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Legal entity separation from its legal owners and managers with help...

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Financial Management
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Legal entity separation from its legal owners and managers with help of state laws is classified as

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Correct Answer: Option B
Legal entity separation from its legal owners and managers with help of state laws is classified as Corporation. A corporation is a legal entity that is separate and distinct from its owners. Corporations enjoy most of the rights and responsibilities that individuals possess: they can enter contracts, loan and borrow money, sue and be sued, hire employees, own assets and pay taxes.
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