Bill Starts Castaway to Market a New Line of Uniquely

question 11

Multiple Choice

Bill starts Castaway to market a new line of uniquely designed fishing gear. Delta Bank loans $50,000 to Bill for the project. The bank is most likely to recover the amount of the loan from Bill's personal assets

• A) ​if Bill provides a complete, accurate record of business transactions.
• B) ​if the loan is not subject to an agreement that imposes personal liability.
• C) ​if Bill's business is a sole proprietorship.
• D) ​under no circumstances.

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Definitions:

Puma Company

A global athletic and footwear brand known for its sports and lifestyle products.

Return on Total Assets

A financial ratio indicating the profitability of a company relative to its total assets, showing how efficiently assets are used to generate profit.

Ending Balance

The amount of money remaining in an account at the end of an accounting period, after all transactions have been accounted for.

Average Balance

The average balance is a calculation to determine the average amount in an account over a specific time period, often used to assess account fees or for financial requirements.