Which option does not represent a Business Entity?

A business entity typically refers to an organization formed for the purpose of conducting business. This can include various structures, each having distinct characteristics and implications for liability, taxation, and regulatory requirements.

A corporation is a legal entity that is separate from its owners, providing limited liability protection and allows for ownership transfer through shares. A limited liability company (LLC) combines features of corporations and partnerships, offering flexibility in management and limited liability. A partnership is formed when two or more individuals join to conduct business together, allowing them to share profits, losses, and responsibilities.

An individual contractor, however, operates as a self-employed individual without creating a distinct legal structure separate from themselves. They do not have the same legal protections or responsibilities as a business entity, such as limited liability or formal governance structures. They are typically personally liable for business debts and obligations, making them distinct from the other options that are recognized as business entities.