Which of the following best defines a corporation?

A) It is an entity created and authorized by federal law that raises capital by issuing stock to limited partners.
B) It is an entity created and authorized by state law that raises capital by issuing stock to investors, who own the corporation.
C) It is an entity created and authorized by federal law that raises capital by issuing stock to investors, who own the corporation.
D) It is an entity created and authorized by state law that raises capital by issuing stock to limited partners.

B