Multiple Choice
Suppose Theo owns a proprietorship that is in serious financial difficulty.The assets of the company are $100,000, but liabilities are $175,000.However, Theo also has stock in General Motors worth $200,000.If Theo files for bankruptcy, what amount of personal assets might he lose?
A) $75,000
B) $100,000
C) $200,000
D) $275,000
Correct Answer:
Verified
Correct Answer:
Verified
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