1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
12345 [234]
2 years ago
14

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.

You might be interested in
Place the steps for proper lifting technique in the correct order. --Select-- --Select-- --Select- --Select-- --Select- --Select
Basile [38]

Answer:hold up

Explanation:

7 0
3 years ago
The local electronics store is offering a promotion​ "1-year: same as​ cash," meaning that you can buy a tv​ now, and wait a yea
shtirl [24]

Answer:

$961.54

Explanation:

To calculate the real price of the TV you would have to determine the present value of the TV's price. The future price of the TV is $1,000 and your discount rate is 4% annual (the same as your bank), so the present value of the TV =

present value = future value / (1 + rate) = $1,000 / 1.04 = $961.54

3 0
2 years ago
You are considering the purchase of an office building for $1.5 million today. Your expectations include the following: first-ye
ddd [48]

Answer:

$289000

Explanation:

Effective Gross Income (EGI): Effective Gross Income is calculated by deducting the Vacancy and collection (V&C) loss from Gross Potential Income (GPI).

First year gross potential income (PGI) is $340,000

Vacancy and collection (V&C) loss is 15% of gross potential income

Therefore, (V&C) allowance = [$340,000 15%]

= $51,000

Calculate Effective Gross Income (EGI) for the first year of operations:

Item

Amount

Potential gross income (PGI)

$340,000

Less: V&C allowance (at 15% of PGI)

($51,000)

Effective Gross Income ( EGI )

$289,000

Hence the EGI is $289,000

7 0
3 years ago
Kelsey wants to buy some bananas. one grocery store sells them at 2 pounds for $0.89. another store sells them at 3 pounds for $
MAVERICK [17]
<span>Too find he lowest units price you divide the price per pound by the number of pounds. At the first store it is roughly 44 cents per unit. The second store is about 33 cents per unit. The lower unit price is 33 cents per pound at the second store.</span>
3 0
3 years ago
"In a Real Estate Limited Partnership, the general partner refinances an existing $5,000,000 mortgage on a $10,000,000 property
OlgaM077 [116]

Answer:

Increase interest deductions for the limited partners.

Explanation:

In the given scenario the general partner refinances an existing $5,000,000 mortgage on a $10,000,000 property to the original amount of $8,000,000. The interest rate on both mortgages is the same.

Refinancing a loan means that more money is disbursed to the borrower before the termination of the loan.

When a loan is refinanced at the same interest rate the borrower pays more interest.

For example if the mortgage remains at $5,000,000 the interest paid on this principal will be lower.

When the loan is refinanced to $8,000,000 at the same Interest rate the interest paid will be higher because principal is higher.

So the general partner aims to increase the amount of interest paid.

4 0
3 years ago
Other questions:
  • Pesto Company possesses 80 percent of Salerno Company’s outstanding voting stock. Pesto uses the initial value method to account
    7·1 answer
  • What is the primary benefit of activity-based costing? Arbitrary allocations of overhead costs All these are primary benefits of
    6·1 answer
  • Mira Mesa Appliances makes and sells kitchen equipment for offices and hotel rooms. Mira Mesa management believes that a new mod
    14·1 answer
  • When a company sponsors motor sports and other​ action-oriented events, it is utilizing the​ ________ mode of communication from
    6·1 answer
  • Which of the following is true? In recent decades, the volume of U.S. international trade has been declining as a share of the e
    15·1 answer
  • A hospital revenue bond issue is being underwritten on a negotiated basis. The offering consists of $100,000,000 par value of te
    12·1 answer
  • what is the relationship between the securities and exchange chommisison and accounting standard setting in the united states
    14·1 answer
  • An investor who goes short in a futures contract will _____ any increase in value of the underlying asset and will _____ any dec
    8·1 answer
  • The organization of data within folders in a manual file system is determined by?
    9·1 answer
  • As a unit of measure, money makes it easier for consumers to do what? a. compare prices of different products. b. make a bigger
    15·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!