Which is the type of bankruptcy that allows large companies to reorganize themselves and pay off debt in the future?
a. Chapter 3
b. Chapter 5
c. Chapter 7
d. Chapter 11
e. Chapter 13
d
FEEDBACK: a. Incorrect.
b. Incorrect. This chapter deals with liquidation and repayment.
c. Incorrect.
d. Correct. This chapter is allowed if the courts believe that the company or individual can successfully reorganize.
e. Incorrect.
You might also like to view...
Tom, a customer care executive, receives an order of 25 personal computers from a customer who wants the goods to be delivered to him in two days. Tom needs to inform the customer of that there will be a delay in shipping goods in bulk in such a short span of time. In order to maintain trust, Tom should ________.
A. update the customer regularly and keep the customer informed of any further delay B. update the customer only when he or she raises a complaint regarding non-receipt of goods C. update the customer regarding the delay as per his own convenience D. update the customer only when they inquire about the delay in the shipment
Which of the following is not a risk exposure in a PC accounting system?
a. reliance on paper documentation is increased b. functions that are segregated in a manual environment may be combined in a microcomputer accounting system c. backup procedures require human intervention d. data are easily accessible
Adjusting entries:
A. Affect only balance sheet accounts. B. Affect both income statement and balance sheet accounts. C. Affect only equity accounts. D. Affect cash accounts. E. Affect only income statement accounts.
Oliver works in a place that has a formal chain of command and is internally focused. His manager, Amelia, uses her position to manage her employees and to emphasize the importance of efficiency, productivity, and organization in the day-to-day running of operations. Oliver and Amelia work for a company that fits which type of culture?
A. hierarchy B. adhocracy C. market D. clan