Multiple Choice
Glossamer Inc., a company owned by George and Alex, faces huge debts and is eventually shut down due to bankruptcy. The company's financial loss affects Alex personally, and his house and other personal assets are seized by the bank. However, George's personal assets are not affected. This is most likely because George is a(n) _____.
A) general partner
B) limited partner
C) active partner
D) quasi partner
Correct Answer:
Verified
Correct Answer:
Verified
Q140: Happta is a corporation with tax-exempt status.
Q141: Scoopjoe, an ice cream brand in Wisconsin,
Q142: The owner of a sole proprietorship must
Q143: Which of the following statements is true
Q144: A group of five people wants to
Q145: Which of the following is a characteristic
Q147: FoodieGo, a catering company, is owned by
Q148: Choice of ownership determines the degree to
Q149: A corporation is a separate entity from
Q150: Briefly explain the process of forming a