Richard Moore is the controller for Ajax Company. Recently, he suffered several large losses at the race track, causing him to incur enormous personal debts. Which type of non-sharable financial problem best describes Richard's situation?
A) Business reversal
B) Physical isolation
C) Violation of ascribed obligations
D) Status gaining

Question

Quizplus · Accepted Answer

Richard's situation best describes a violation of ascribed obligations because he has incurred enormous personal debts, which is a violation of his obligation to his creditors.

Richard Moore Is the Controller for Ajax Company