Task: Class Definition Understanding (ontology: Business_Finance/Financial_Industry_Business_Ontology)

Which of the following definitions best describes 'beneficial owner'?

A. party that enjoys the benefits of ownership (such as receipt of income) of something even though its ownership (title) may be in the name of another party (called a nominee or registered owner)
B. party that has the authority to control some legal entity
C. party empowered with some level of legal control and corresponding responsibility
D. party that has the legal authority to exercise control

Answer: party that enjoys the benefits of ownership (such as receipt of income) of something even though its ownership (title) may be in the name of another party (called a nominee or registered owner)