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:

Negative Impact

Adverse effects or damages caused by an action or event.

Positive Impact

The beneficial effects or outcomes resulting from an action, policy, or behavior.

Searching For Analogies

The cognitive process of finding relationships or similarities between different concepts or situations.

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Refers to the aspects in which two or more objects, ideas, or concepts are alike, often used to identify common traits or patterns.