Question 21 of 25 • DRHS GA-GSE Personal Financial Literacy
Calvin and Trish started a cleaning company, but unfortunately their competitors offered lower prices, and the company failed. Calvin and Trish had borrowed $20,000 to start the business.What is one consequence they would face if they go through bankruptcy?
Answer
A
They will face legal charges.
B
Their credit will be impacted for several years.
C
They will be prohibited from getting a future business loan.
D
They will have to pay back the full loan along with all interest.