Greg Knowles Owns a Business,Clean and Paint

question 100

Multiple Choice

Greg Knowles owns a business,Clean and Paint.Clean and Paint has 47 employees,equipment worth $350,000,and signed contracts for work that total $450,000.Tragically,Greg has a massive heart attack and passes away.Greg leaves behind his wife and three children.Which of the following is correct?​

• A)​The equipment will be sold, the business liquidated, and proceeds distributed first to the employees.
• B)​The business could be liquidated or continued by Greg's heirs.
• C)The business is dissolved and cannot continue.
• D)The employees now own the business.

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Definitions:

Adrenocorticotropic Hormone

A hormone produced in the anterior pituitary gland that stimulates the adrenal cortex.

Gluconeogenesis

The metabolic pathway that generates glucose from certain non-carbohydrate substrates, crucial for maintaining blood sugar levels.

Inflammatory Response

The body's protective reaction to infection, irritation, or injury, characterized by redness, heat, swelling, and pain.

Parathyroid Hormone

Parathyroid hormone is a hormone produced by the parathyroid glands that regulates calcium levels in the blood.