Ted and Fred are the owners of a gas station. They invested $150,000 each and pay an
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Ted and Fred are the owners of a gas station. They invested $150,000 each and pay an employee named Lawrence $35,000 per year. This year revenues are $900,000, while costs are $940,000. Who is legally responsible for bearing the $40,000 loss?
a. Lawrence
b. Ted
c. Fred
d. Ted and Fred
e. Lawrence, Ted, and Fred
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D Ted and Fred A firms owners bear the firms business risk including the risk of runni...View the full answer
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Related Book For 
Microeconomics Principles, Problems and Policies
ISBN: 978-1259450242
20th edition
Authors: Campbell R. McConnell, Stanley L. Brue, Sean Masaki Flynn
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