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Author Question: Which of the following is true regarding a firm that has been declared bankrupt? A) creditors take ... (Read 51 times)

soccerdreamer_17

  • Hero Member
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on: Jun 24, 2018
Which of the following is true regarding a firm that has been declared bankrupt?
 A) creditors take the firm's assets
  B) the bankrupt person's credit rating is impaired
  C) the owners may be held criminally liable if fraud was intended
  D) all of the above

Question 2

The total equity or owner's share of a business is calculated using which formula?
 A) equity = assets + liabilities
  B) equity = assets  liabilities
  C) equity = assets  liabilities
  D) equity = assets - liabilities


essyface1

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Reply #1 on: Jun 24, 2018
Answer to Question 1

D

Answer to Question 2

D


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