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
Felix Incorporated has just exchanged 1,250 shares of $65 par-value preferred stock for a parcel of land advertised for a price
Anna11 [10]

Answer:

Dr Land account 90,000

Cr Preferred Stock account 81,250

Cr Paid-in Capital in Excess of Par Value - Preferred Stock account 8,750

Explanation:

When preferred stock is sold, the transaction must be recorded at par value in the preferred stock account. Any amount of money received over par value, must be recorded in the paid-in capital in excess of par value - preferred stock account.

7 0
3 years ago
According to the affordable care act new health insurance marketplaces are established by the
jekas [21]
<span>According to the Affordable Care Act new health insurance marketplaces are established by the Patient Protection Act. This Act was put in place to let patients compare different health insurance companies and benefits to determine what is best for them. The benefits are dependent on how many people or an individual needs coverage and what type of coverage they are wanting to have. </span>
6 0
2 years ago
Who is responsible for applying skills, knowledge, and project management tools and techniques to project activities to successf
spin [16.1K]

Answer:

The correct answer is: Project manager.

Explanation:

The Project manager is the executive in corporations to oversee the accomplishments of the objectives of the firm. These professionals help to set, perform, evaluate, and adjust the goals of the company according to the current situation. They come up with different tools to effectively achieve that.

3 0
3 years ago
Draw a curve that shows the relationship between the tax rate and the amount of tax revenue collected. The relationship between
maw [93]

Answer:

Laffer curve.

Explanation:

Laffer Curve is developed by

Arthur Laffer. It is used to show the relationship between tax rates and the amount of tax revenue collected by governments of a particular country. Laffer curve is used to demonstrate Laffer’s argument that sometimes cutting tax rates can increase total tax revenue.

Laffer curve shows the relationship that occurs between the tax rate and the amount of tax revenue collected

The relationship between the tax rate and the amount of tax revenue collected is called the​ LAFFER CURVE curve. This curve shows that​ TAX CUT CAN INCREASE TAX REVENUE.

The drawing of a laffer curve has been attached

8 0
2 years ago
Under what condition would it be rational for the trading areas of two branch locations to completely overlap?
dolphi86 [110]
When the retailer decides to switch store locations due to loss of a lease on the first store location.
7 0
2 years ago
Other questions:
  • Which was not a response taken during the hoover administration in an attempt to turn the economy around?
    10·1 answer
  • In coming years, high-tech growth areas such as computers, biotechnology, and robots are likely to experience a:
    14·1 answer
  • What is the first step of the process of creating a new product?
    13·1 answer
  • When an appraiser assumes that no one is being forced to sell at a reduced price because of an impending divorce or similar situ
    13·1 answer
  • Two firms compete by advertising. Given the payoff matrix to this advertising​ game, identify each​ firm's best response to its​
    9·1 answer
  • A business provides its employees with varying amounts of vacation per year, depending on the length of employment. The estimate
    13·1 answer
  • Select the correct answer.
    15·1 answer
  • the ____ is a federal government agency that offers both managerial and financial assistance to small businesses
    10·1 answer
  • The Almer Group announced its decision to merge with Dover Global Solutions. This is an example of a(n):
    7·1 answer
  • · What organizational goal is driving this training?
    13·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!