Walter and Gordon Are the Shareholders of a Small Private

Multiple Choice

Walter and Gordon are the shareholders of a small private Ontario company,which recently went bankrupt due to the world wide recession,owing $100 000.00 to its creditors.Unfortunately the company's assets are only $50 000.00.In this case,the amount available to satisfy the creditors of the company will be

A) $50 000.00 plus Gordon's assets only.
B) $50 000.00 plus Walter's assets only.
C) $50 000.00 plus the assets of both Walter and Gordon.
D) $50 000.00 only.
E) none of the above