Question

A corporation is a legal entity: a. created by local ordinance. b. created by an agency regulation. c. created by state statute. d. that naturally occurs when two or more people do business.

Answer 1

c. created by state statute.

Step-by-step explanation:

A corporation is a legal form of business entity which is distinct from its owner. It is also called "legal person" because it has the power like a person and it can enter in contract, pay taxes, make contracts and even get sued for legal obligations. They are formed legally by registering as a statute by a government agency. A group of stakeholders jointly holds the ownership of a corporation for a common purpose mainly profit.