Walter and Gordon Are the Shareholders of a Small Private

question 6

Multiple Choice

Walter and Gordon are the shareholders of a small private Ontario company,which recently went bankrupt due to the world wide recession,owing $100 000.00 to its creditors.Unfortunately the company's assets are only $50 000.00.In this case,the amount available to satisfy the creditors of the company will be

• A)$50 000.00 plus Gordon's assets only.
• B)$50 000.00 plus Walter's assets only.
• C)$50 000.00 plus the assets of both Walter and Gordon.
• D)$50 000.00 only.
• E)none of the above

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Definitions:

Young Adult

An individual in the stage of life typically ranging from late teens to early thirties, often marked by the pursuit of education, career, and personal relationships.

Fatal Injuries

Injuries that lead directly to death, either immediately or as a consequence of complications arising from the injury.

Young Adults

Individuals in the transition phase between adolescence and full-fledged adulthood, typically aged between 18 and 25.

Motor Vehicle Accidents

Incidences where vehicles collide or crash, leading to damage, injuries, or fatalities.