The dissolution of a corporate form,making it back into a sole proprietorship or general partnership,if the court finds that the owner carelessly mixed up personal and business assets or finances is(are)called
A)piercing the veil.
B)pass through taxation.
C)torts.
D)exculpatory clause.

Question

Quizplus · Accepted Answer

The dissolution of a corporate form and reverting it back to a sole proprietorship or general partnership due to the careless mixing of personal and business assets or finances is known as "piercing the veil." This legal concept holds the owner personally liable for the debts and obligations of the business.

The Dissolution of a Corporate Form,making It Back into a Sole