In a Corporation, Personal Property of the Owners Can Be

question 4

True/False

In a corporation, personal property of the owners can be taken to pay the debts of the business.

---

Definitions:

Marketable Securities

Low-risk securities with short maturities.

Accumulated Earnings

The total amount of net income a company retains over its existence, not distributed as dividends to shareholders but rather reinvested in the business.

CFO

Chief Financial Officer, an executive responsible for managing the financial actions of a company, including financial planning, risk management, and financial reporting.

Treasurer

A Treasurer is a financial officer responsible for overseeing the management and reporting of an organization's finances, ensuring proper handling of cash flow, investments, and financial planning.