In Chapter 7 bankruptcy a debtor

Business

1 answer:

nalin [4]2 years ago

3 0

Answer: A. is required to draw up a petition listing all assets and liabilities.

Explanation:

Bankruptcy simply refers to the legal whereby an economic entity is unable to repay their outstanding debts. In this case, the individual or business will need to sell its remaining assets in order to pay the liabilities.

Due to the above reason, then the debtor will be required by the government to list all of their assets and the liabilities that it owns and this will be used in determining whether the obligation has been fulfilled or not.

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One bag of flour is sold for $1.00 to a bakery, which uses the flour to bake bread that is sold for $3.00 to consumers. A second

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Answer:

The correct answer is option b.

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GDP is a measure of economic growth that shows the level of final goods and services produced in an economy in a year. It includes only final goods and services, intermediate goods are not included.

So here the value of flour used to make bread will not be included as it is an intermediate good. But the value of bread will be included. The value of the second bag of the floor will be included as it is a final good sold to the consumer.

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= $3 + $2

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