If a sole proprietor is forced to liquidate and business debts exceed business assets,
a. the maximum liability of the proprietor is limited to the amount invested in the business
b. the proprietor's business assets and only the financial portion of personal assets can be taken to cover business debts
c. the proprietor has no liability for any of the business debts
d. the proprietor's business and personal assets can be taken to cover business debts
e. only the proprietor's profit from the business can be used to cover business debts
D
You might also like to view...
In the United States, the reserve requirement is set by the:
a. Bank of America. b. federal government. c. U.S. Treasury. d. Federal Reserve Board. e. Department of Commerce.
A human resource such as ingenuity can be thought of as
A. a causal factor for aggregate supply shifting left. B. part of a country's endowment. C. the outcome of more investment spending. D. part of government spending programs.
Suppose the economy's production function is Y = AK0.3N0.7. If K = 2000, N = 100, and A = 1, then Y = 246. If A rises by 10 percent, and K and N are unchanged, by how much does Y increase?
A. 5% B. 20% C. 15% D. 10%
List the major categories of tangible capital
What will be an ideal response?