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WAEC Economics 2025 Question 50

Question 50

Business Organisations

A business is a separate legal person if

  1. A.it has all the features of a human being.
  2. B.the business shares its liabilities with the owners.
  3. C.it is recognized as a corporate entity.
  4. D.it is governed by a Deed of partnership.
Show the answer and explanation

Answer: C (it is recognized as a corporate entity.)

Explanation

Incorporation makes a business a legal person separate from its owners.