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
r-ruslan [8.4K]
3 years ago
9

When a business is worth more if its assets are sold than if it continues to operate, then the business is liquidated, and the p

roceeds from the sale are used to satisfy any outstanding debt. Liquidation occurs when businesses file for bankruptcy under Chapter 7 of the Federal Bankruptcy Reform Act. This act provides for an equitable distribution of the debtor's assets among the creditors. The distribution of assets i:s governed by a certain priority of claims. Which of the following claimants has the highest priority according to Chapter 7? A. State taxes due B. Unsecured claims for customer deposits C. Wages due before three months of filing D. Legal and administrative fees to operate the bankrupt firm
Business
1 answer:
kherson [118]3 years ago
5 0

Answer:

D. Legal and administrative fees to operate the bankrupt firm

Explanation:

Under chapter 7, priority debt includes unpaid wages, child support, income taxes, etc. But before any priority debts, non-priority debts or secured or unsecured loans are paid, the bankruptcy court and trustee is paid first. In other words, you must first pay the administrative fees and expenses resulting from the bankruptcy procedure before any debts are paid off. The trustee is the person appointed to liquidate the firm.

You might be interested in
When merchandise purchased on account is returned under the perpetual inventory system, the buyer would debit a. Inventory b. Pu
Keith_Richards [23]

Answer:

Accounts payable

Explanation:

In accounting, the term accounts payable refers to the money that is owed by a business to its suppliers, in other words, it refers to the business' short-term debts.

When merchandise is purchased on account and it is returned under the perpetual inventory system, the buyer would then debit accounts payable since it is money that the company would owe to the buyer.

4 0
3 years ago
How can the outsourcing of jobs cause production possibilities to expand?
ollegr [7]
Outsourcing of jobs causes product possibilities to expand as they carry out their work or company into having it outside rather than indoor or at home in a way of expanding their functions and their company to be able to make their company known and tackle different circumstances or dimensions that will greatly affect their company.
3 0
3 years ago
Read 2 more answers
The lack of which of the following represents scarcity
Lapatulllka [165]
A because scarcity in economics mean having limited resources and unlimited wants, meaning there’s never enough resources to satisfy the needs that every individual wants
4 0
3 years ago
Read 2 more answers
Businesses in the nation of Islandia have been accumulating cash because they have a pessimistic outlook of the national economy
tester [92]

Answer:

A) if the MPC = 0.8, then the MPS = 0.2, and the multiplier = 1 / 0.2 = 5

if investment increases by $30 billion, aggregate demand will increase by $150 billion ($120 billion in consumption and $30 billion in investment).

B) if Mountainia's MPS = 0.25, then the multiplier = 1 / 0.25 = 4

if $5 billion in investments are postponed, then the aggregate demand will decrease by $20 billion ($15 billion in consumption and $5 billion in investment)

4 0
3 years ago
In recent years, new mp3 and digital technologies have replaced compact disks. This is an example of?
Lemur [1.5K]

In recent years, new mp3 and digital technologies have replaced compact disks. This is an example of creative destruction.

Creative destruction is an economic concept most closely identified with the Austrian-born economist Joseph Schumpeter since the 1950s. Schumpeter derived it from Karl's work on Marx and popularized it as the theory of economic innovation economics. Sometimes called a Schumpeter storm.

According to Schumpeter, a 'creative destruction storm' is a process of industrial mutation that is constantly transforming the economic structure from within, constantly destroying the old and always creating the new. ”.In Marxist economic theory, the concept more generally refers to the interconnected processes of wealth accumulation and destruction in capitalism. We owe the first use of these terms to German sociologist Werner Sombart in his book War and Capitalism (1913).

Learn more about Creative destruction here : brainly.com/question/15718116

#SPJ4

7 0
1 year ago
Other questions:
  • Research studies indicate that:
    8·1 answer
  • The internal growth rate of a firm is best described as the: Multiple Choice Minimum growth rate achievable assuming a 100 perce
    15·1 answer
  • Sassy Company sells its widgets for $20 each. Its variable cost is $12 per widget. Fixed costs are $150,000 per month for volume
    5·2 answers
  • The ethics code at the company where quincy works sets forth a strict "no tolerance" policy for accepting gifts from suppliers o
    10·1 answer
  • Suppose that, due to exceptionally good weather in the Mid West, the United States experiences an increase in grain production i
    10·1 answer
  • For the following questions, you need to determine whether each of the four factors given creates a positive demand shock, a neg
    11·1 answer
  • Sweeties, Inc., manufactures a sugar product by a continuous process, involving three production departments-Refining, Sifting,
    9·1 answer
  • You have $35,900 on deposit with no outstanding checks or uncleared deposits. One day you write a check for $4,200 and then depo
    6·1 answer
  • The value of what type of money comes from what it is made of?
    6·1 answer
  • The cash account for American Medical Co. at April 30 indicated a balance of $334,985. The bank statement indicated a balance of
    13·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!