Question: Please answer all 3 as per chegg guidelines Question 10 (1 point) Listen Rose, Lily, and Fawn were shareholders in Style Co., an incorporated company

Please answer all 3 as per chegg guidelines
Please answer all 3 as per chegg guidelines
Question 10 (1 point) Listen Rose, Lily, and Fawn were shareholders in Style Co., an incorporated company with limited liability. Each bought one-third of the shares in Style Co. for an aggregate payment of $15 000 each. The corporation borrowed $90 000 from the bank to finance its operations. No personal guarantees were given to the bank. Style Co. became insolvent, and the bank ultimately sued each of the shareholders to recover the $90 000. What amount is the maximum amount that could be recovered from Rose, Lily or Fawn personally? Question 11 (1 point) Listen You and your friends want to start up an accounting business. You all want to be involved in the business. What business structure gives you the best protection available to your accounting business from successful claims against your business? 1) general partnership 2) limited partnership 3) limited liability partnership 4) corporation Question 12 (1 point) Listen Which statement best describes how a partnership comes into existence? 1) The partners must sign a written partnership agreement. 2) The partners must register the partnership 3) Two or more people carry on business together with a view to profit. 4) Two or more people purchase property together

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