Answer:
Michone's creditors (listed in order of priority):
- bank = $500,000 mortgage (secured loan)
- child support = $5,000 (priority class of unsecured creditors)
- legal fees = $4,000 (second class of unsecured creditors)
- State government* = property taxes for $8,000 (eighth class of unsecured creditors, but property taxes are always collected after a property is sold either by foreclosure or by court order). Even if the new buyer didn't know anything about the delinquent property taxes, he/she is responsible for paying them after the sale is made and it cannot be avoided.
- car accident victim = $40,000 (tenth class of unsecured creditor)
*Generally taxes owed are a lower class of priority unsecured creditors, but taxes never disappear. In this case, the property taxes are going to be paid by whoever bought the house or the bank in case the house was foreclosed. Michone will not pay them, but someone else will.
Assuming that Michone only had $10,000 left after selling the house (both property taxes and mortgage are paid for), she will need to pay child support first. Child support and alimony payments always have the top priority.
Then with the remaining $5,000 administrative and legal fees will be paid, meaning that the attorney fees will be paid first. The car accident victim will receive only $1,000.
Answer: A. Dollars are printed on paper and have value because the government says they have value.
Explanation: Commodity backed money is a situation where by the value of money is backed up by its purchasing power with which it can be traded with at request. The supply of many can not be more than the purchasing power the country holds.
This shorter payback period is positive and beneficial to the consumer, as it allows for harmony with amortization expenses.
We can arrive at this answer because:
- A short payback period is beneficial because of its relationship to amortization, as long-term debt allows this amortization to take place.
- These amortization expenses allow the cost of long-term assets to be represented in the payment.
- However, when the short-term payback period allows for amortization, causing the asset's value to be reduced by the amount that will be paid by the consumer.
In this case, we can state that in cases like the one shown in the question above, the short payback period is very beneficial and interesting to the consumer, as it can promote economic benefits.
More information:
brainly.com/question/23160357?referrer=searchResults
The primary tool used by the Fed to achieve monetary policy goals is <u>Open Market Operations.</u>
<h3>What are Open Market Operations (OMO)?</h3>
- This refers to the trading of securities by the fed.
- Securities traded include bills, notes, and bonds.
When the fed wants to increase the money supply, they will buy these securities from the public. If it is a decrease they they seek, they will sell securities to the public.
In conclusion, this is Open Market Operations.
Find out more about Open Market Operations at brainly.com/question/14256204.
True
A captive agent means they have signed a contract to stay with the company for that many number of years
