Author Question: You own stock worth an estimated 1 million in the LPL corporation. In addition, you have personal ... (Read 56 times)

Evvie72 · **on:** Jul 1, 2018

You own stock worth an estimated 1 million in the LPL corporation. In addition, you have personal assets worth another 2 million. LPL becomes insolvent, with debts exceeding assets by 15 million. Your personal wealth will decline by
a. 0
b. 1 million
c. 1.5 million
d. 3 million
e. your proportion of the total outstanding stock shares times 15 million

Question 2

The corporate form of business organization
a. is chosen by more firms than any other form of organization in the United States
b. gives firm owners limited liability
c. generates less than half of the output in the U.S. economy
d. combines the limited liability of the partnership with the personal control of the sole proprietorship
e. is the least complex form of business organization