What best defines a common carrier?

A common carrier is best defined as a business that transports persons or property for public compensation. This definition captures the essence of what a common carrier does: it offers its services to the general public, meaning that anyone can utilize its transportation services as long as they can pay the required fare or fee. Common carriers are typically regulated by government entities to ensure fair practices and adequate service.

The other options describe different types of transport or service providers but do not encapsulate the broad, inclusive nature of common carriers as required by law. An individual transporter of specific goods refers to a private or specialized transport service, which does not serve the general public. A private entity managing funeral logistics narrowly focuses on specific arrangements, which is not aligned with the public service aspect of common carriers. Lastly, a service providing personal transport for families signifies a more limited scope, similar to private service providers rather than a business with public obligations. Thus, the choice that accurately reflects the definition of a common carrier is the one describing the business that operates for public compensation.