When Jill and a few of her friends from the University of Delaware decided to start...
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When Jill and a few of her friends from the University of Delaware decided to start a business together, they chose to form a corporation. The company was successful for a time but eventually the business failed. When it failed, the corporation owed a substantial amount of debts to many creditors. 1. BRIEFLY EXPLAIN the SEVERAL reasons why Jill and her friends chose to form a corporation instead of, for example, a partnership. (7 points) 2. Jill and her friends as owners of the corporation were ordered by a judge to pay the creditors of the corporation. BRIEFLY EXPLAIN why a court would order the owners of a corporation to pay the debts of the corporation. (3 points) When Jill and a few of her friends from the University of Delaware decided to start a business together, they chose to form a corporation. The company was successful for a time but eventually the business failed. When it failed, the corporation owed a substantial amount of debts to many creditors. 1. BRIEFLY EXPLAIN the SEVERAL reasons why Jill and her friends chose to form a corporation instead of, for example, a partnership. (7 points) 2. Jill and her friends as owners of the corporation were ordered by a judge to pay the creditors of the corporation. BRIEFLY EXPLAIN why a court would order the owners of a corporation to pay the debts of the corporation. (3 points)
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Answer rating: 100% (QA)
1 There are several reasons why Jill and her friends chose to form a corporation instead of a partnership a Limited Liability One of the primary reasons for choosing a corporation is the concept of li... View the full answer
Related Book For
Taxation Of Individuals And Business Entities 2015
ISBN: 9780077862367
6th Edition
Authors: Brian Spilker, Benjamin Ayers, John Robinson, Edmund Outslay, Ronald Worsham, John Barrick, Connie Weaver
Posted Date:
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