WAEC Economics 2025 Objective — Question 27
Question 27 of 51 from the West African Examinations Council (WAEC) Economics 2025 Objective paper, with the correct answer and a full explanation.
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A business is a separate legal person if
- A. the business shares its liabilities with the owners.
- B. it has all the features of a human being.
- C. it is governed by a deed of partnership.
- D. it is recognized as a corporate entity.Correct
Explanation
A business becomes a separate legal (artificial) person once it is recognised as a corporate entity, distinct from its owners.
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