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r-ruslan [8.4K]
2 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]2 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.

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hichkok12 [17]
The number of additional items that Belle Co. purchased is equal to 27. That is, 7 + 8 + 12 which is equal to 27. The concept of LIFO is "Last In First Out" which means that the ones that has been purchased last should be dispensed off first. 

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3 years ago
Read 2 more answers
Which of the following cash budget equations is incorrect? Multiple Choice Period one ending cash balance = period two beginning
iris [78.8K]

Answer:

Cash payments + cash receipts = cash requirements

Explanation:

The cash budget is a budget which deals in a inflow and outflow of cash. The inflow of cash refers to the incoming of cash through receipts while the outflow of cash refers to the outgoing of cash through payments

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You operate a small catering firm specializing in sit-down dinner parties that you prepare and serve yourself with no helpers. A
Greeley [361]
Well I would say B because the passage states that she doesn't have the staff and so on and so forth. But it didn't say that she couldn't cook it so I would cook it but make her subcontract the rest.
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How do consumers take part in the resource market?
Andrew [12]

Simple answer....too break it down if there was no consumers there would be Stores open.

Definition of consumer is a person who purchases goods and services for personal use.

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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

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2 years ago
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