Please read the Wall Street Journal Article below Covel, S. (2009, Sep 28). The money game --- the double whammy of bankruptcies: Entrepreneurs often don't realize that their personal assets are at risk; until it's too late

Answer question below:

1. What is your main take-away from this article? What did you learn the most?

2. How does a firm's bankruptcy affect the owner of a sole proprietorship?

3. What is an LLC? How does an LLC or corporation differ from a sole proprietorship or partnership if the firm goes bankrupt?

4. How does a personal loan guarantee impact an owner if the firm is set up as a sole proprietorship, a partnership, a limited partnership, an LLC, or a corporation?