A corporation is a business that:A.is legally owned by only one person.B.is set up and run by the government.C.is controlled by people who buy stock.D.is run by a group of two or more owners.
Question
A corporation is a business that:A.is legally owned by only one person.B.is set up and run by the government.C.is controlled by people who buy stock.D.is run by a group of two or more owners.
Solution
The correct answer is C. A corporation is a business that is controlled by people who buy stock. These people are known as shareholders and they own a portion of the corporation proportional to the amount of stock they own. The shareholders elect a board of directors to make major decisions for the corporation.
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