Author Question: A firm's operating budget represents a firm's overall plan of action for a specified time period. ... (Read 72 times)

nummyann · **on:** Jul 14, 2018

A firm's operating budget represents a firm's overall plan of action for a specified time period.

Indicate whether the statement is true or false

Question 2

The retail card and gift shop chain that Heidi started has since been incorporated. Which of the following best describes the limited liability that Heidi has as the primary stockholder in this corporation?
A) Heidi has no responsibility if the business fails and will still be able to get her initial investment back.
B) Heidi may have to give up her car and house if the corporation fails in order to cover the debts of the corporation.
C) The other stockholders will be able to seize Heidi's personal money but not her primary residence in the event that the business fails.
D) Heidi's personal assets will be protected in the event that the corporation fails, although she could lose her entire investment.
E) Heidi will only be liable for losses that develop from decisions she made about the daily business operations.