Mark operates an auto parts shop. The shop has gone out of business, and all assets have been
sold. The following debts remain:
1. $10,000 owed to suppliers for merchandise that was sold to customers
2. $20,000 owed to suppliers for merchandise that was ruined in an unexpected flood
3. $35,000 owed to a customer who has a final judgment in a product liability suit against
the auto parts shop
For which of these debts can Mark be held personally liable?
A) 1 and 3 only
B) 1 only
C) 1 and 2 only
D) None, they were all business debts
E) 1, 2, and 3
E
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When analyzing the results of the test data method, the auditor would spend the least amount of time reviewing
a. the test transactions b. error reports c. updated master files d. output reports
Which of the following is a franchisor problem?
A. Attempts to require adherence to prices set by the franchisor may violate the Sherman Act. B. Insurance cannot be used to cover risks due to torts committed by the franchisee. C. The franchisee has to be made an employee of the franchisor. D. Attempts to require franchisees to buy products exclusively from the franchisor may violate the Sherman Act.
Which element of expectancy theory could be phrased as the question, "What’s the probability that, if I work very hard, I’ll be able to do a good job?”
A. expectancy B. instrumentality C. effort D. valence
A product platform is:
a. a common architecture based on a single design and underlying technology b. a part of the factory shop floor where the product is manufactured c. a part of the factory shop floor where the product is serviced d. all of the above e. none of the above