Brian is the sole proprietor of Long Voyage Software, which generates maps for nature trails. He started the business with an initial investment of $80,000. A faulty map caused one customer to get hopelessly lost. After her rescue and recuperation, she sued Long Voyage for $5,000,000. Which of the following is true?
A) The customer can be awarded only $80,000-what the firm has available to pay.
B) The customer can be awarded $5,000,000 but can get only $80,000.
C) The customer can be awarded $5,000,000, but Brian personally won't have to pay more than $80,000.
D) If $5,000,000 is awarded to the customer, Brian will have to pay none of it.
E) If $5,000,000 is awarded to the customer, Brian will personally be responsible for paying all of it.
Correct Answer:
Verified
Q51: Profit equals _
A) revenue - cost.
B) revenue
Q52: The largest portion of U.S. personal income
Q53: Suppose you own a proprietorship that is
Q54: Which of the following forms of business
Q55: The development of large-scale factory production that
Q57: A cottage industry is one that _
A)
Q58: An advantage of a sole proprietorship is
Q59: Which of the following is a major
Q60: _ equals sales revenue minus the cost
Q61: Stockholders' shares in the profits of a
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents