**Question 90

Cheyenne is a stockholder in Bismarck Aero Company, which is organized as a C Corporation. Bismarck Aero recently lost a major court decision and will probably be forced into bankruptcy. In fact, the damages awarded are so great that, even if all of its assets are sold and the proceeds are used to pay its debts, Bismarck Aero is likely to still owe money to its creditors. If Bismarck Aero does go bankrupt, Cheyenne and the other stockholders will:

Group of answer choices

be personally responsible for all remaining debts.

lose their investment money but nothing else.

be entitled to full reimbursement of any investment losses.

automatically qualify for federal reimbursement for any losses suffered by the firm.