Most publicly traded firms operate as corporations.Which of the following is/are not true?
A) If the corporation becomes insolvent, creditors can claim only the assets of the corporate entity and cannot claim the assets of the individual owners.
B) To settle debts of general partnerships, creditors have a claim on the owners' business and personal assets.
C) To settle debts of sole proprietorships, creditors have a claim on the owners' business and personal assets..
D) In recent years, many partnerships and sole proprietorships have become limited liability companies (LLCs) , or limited liability partnerships (LLPs) , to limit their owners' personal liability for business debts and other obligations.
E) none of the above
Correct Answer:
Verified
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