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1 5 . When a corporation becomes insolvent, the creditors are entitled to whatever assets are available. If a deficiency remains, they may look to
When a corporation becomes insolvent, the creditors are entitled to whatever assets are available. If a deficiency remains, they may look to the personal assets of the owner. In an unincorporated business, the creditors rights are limited to only the assets of the business. If the assets are inadequate, the creditor normally has no further remedy against the owner.
a
True
b
False
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