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A new natural gas field is discovered in northern Canada. Two natural gas companies, Small Gas Corporation and Tiny Gas Corporation, would each like to
A new natural gas field is discovered in northern Canada. Two natural gas companies, Small Gas Corporation and Tiny Gas Corporation, would each like to drill for natural gas there, but neither one has sufficient resources to do so alone. Small Gas Corporation and Tiny Gas Corporation form a third corporation, called Big Gas Corporation, to operate a joint venture. Small Gas and Tiny Gas each contribute $100 million capital to Big Gas Corporation, and each becomes a shareholder of Big Gas Corporation. If the joint venture fails and Big Gas Corporation owes $1 billion to its creditors, which it cannot pay, _______. Question content area bottom Part 1 A. neither Small Gas nor Tiny Gas is liable B. Small Gas and Tiny Gas each lose their $100 million capital contributions but
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