Separation of ownership and management

The correct answer is D. Company.

In a company, especially in a corporation, there is a separation of ownership and management. The owners (shareholders) are distinct from the management team that runs the company. In contrast, in sole proprietorships, partnerships, and HUFs (Hindu Undivided Families), the owners are typically directly involved in managing the business. If you have more questions or need further clarification, feel free to ask!