Question

what is corporation.

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Answer 1

Answer:

Explanation:

A corporation is a legal entity that is separate and distinct from its owners. 1 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. Some refer to it as a "legal person.

Answer 2

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Corporation is an autonomous form of Public sector. It is formed by passing a Special Act either at the Legislature Assembly or at the Parliament. The "Statue" clearly defines the rules and regulations, plans & policies, rights & powers, limits & scope for working of the corporation. It is formed with the intention of service motive only.