Suppose you own a proprietorship that is in serious financial difficulty. The assets of the company are $100,000 . but liabilities are $175,000 . You also have, however, stock in General Motors worth $200,000 . If you file bankruptcy, what amount of personal assets do you stand to lose?
a. $100,000
b. $75,000
c. $200,000
d. $275,000
e. $375,000
B
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The members of a society can assign tasks according to ability and distribute benefits in accordance with need only
A) if the government controls the economy. B) if they have a workable procedure for assessing abilities and needs. C) in a socialist or, more likely, a communist society. D) when there are enough of them to assure competent performance of all necessary tasks. E) when they are committed to equity as well as efficiency.
Exports ________ society's total surplus because of the ________ in price and ________ in production
A) increase; rise; increase B) increase; rise; decrease C) decrease; fall; increase D) decrease; fall; decrease E) increase; fall; increase
Which of the following statements about the short run and long run is true?
A) The number of firms in the industry is fixed in the short run, but in the long run the number can change. B) Free entry and exit of firms is possible in the short run, but entry and exit of firms is restricted in the long run. C) The short-run average cost curves lies below the long-run average cost curves. D) A firm can vary all of its factors of production in both the short run and the long run.
What is the fast-second strategy? What are the risks to a dominant firm from using such a strategy?
What will be an ideal response?