Mr. Mahi owns The Exotic Fish Shop, and Ms. Jones owns 100 shares of XYZ Corporation stock. If both The Exotic Fish Shop and XYZ Corporation go bankrupt:
A) neither Mr. Mahi nor Ms. Jones will lose any personal assets.
B) both Mr. Mahi and Ms. Jones may need to use their personal assets to pay business debts.
C) Mr. Mahi is protected from all losses, but Ms. Jones' personal assets are subject to use as payment for the corporation's debts.
D) Mr. Mahi's personal assets are subject to use as payment for his business debts, and Ms. Jones loses the amount she paid for her stock.
Correct Answer:
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