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9 Sep 2018
Brandy and Ken have been colleagues for many years. Brandy invested $10,000 in their joint business, and Ken invested $15,000. Their firm, BK, develops software. BK has $25,000 in debt. One day, Ken decided to take all of BKâs cash, software, and other assets. He was last seen boarding a plane on a one-way ticket for Argentina. If BK were now to go bankrupt, what would happen to Brandy (in terms of her equity and debt) had their firm been structured as:
a.a corporation;
b.an LLC;
a general partnership;
Brandy and Ken have been colleagues for many years. Brandy invested $10,000 in their joint business, and Ken invested $15,000. Their firm, BK, develops software. BK has $25,000 in debt. One day, Ken decided to take all of BKâs cash, software, and other assets. He was last seen boarding a plane on a one-way ticket for Argentina. If BK were now to go bankrupt, what would happen to Brandy (in terms of her equity and debt) had their firm been structured as:
a.a corporation;
b.an LLC;
a general partnership;
Keith LeannonLv2
10 Sep 2018