Question

The stockholders of a construction firm decide to start a steel company, but they want to have limited liability. After completing the business plan, they initiate the process of establishing the company by filing articles of incorporation and paying the filing fees to the state government. In this scenario, the stockholders of the firm want to start a _____.

Answer 1

Answer:

Corporation

Explanation:

The stockholders of then firm want to start a Corporation ,

Corporation -

It is the group of people or an organisation , which is authorized by the state

as a single association .

The stockholders want to start a steel company , but have limited liability . Hence ,

They started the process after the completion of the plan , and payed the fees to the state government .