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Bill starts Castaway to market a new line of uniquely designed fishing gear.Delta Bank loans $50,000 to Bill for the project.The bank is most likely to recover the amount of the loan from Bill's personal assets​


A) if Bill provides a complete,accurate record of business transactions.
B) if the loan is not subject to an agreement that imposes personal liability.
C) if Bill's business is a sole proprietorship.
D) under no circumstances.

E) A) and C)
F) A) and B)

Correct Answer

verifed

verified

C

Beth starts Checklist to market a new app.Valley Credit Union loans $30,000 to Beth for the project.Later,the debt is most likely to be discharged in bankruptcy


A) if Beth provides a complete,accurate record of business transactions.
B) if the loan is not subject to an agreement that imposes personal liability.
C) if Beth's business is a sole proprietorship.
D) under no circumstances.

E) All of the above
F) None of the above

Correct Answer

verifed

verified

A

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