State the schedules that must be submitted by an individual debtor filing a voluntary petition
What will be an ideal response?
An individual debtor must submit the schedules (lists and statements) noted here after it files a voluntary petition:
a. A list of creditors with addresses
b. A list of all property the debtor owns
c. A statement of the debtor's financial affairs
d. A statement of the debtor's monthly income
e. A current income and expense statement
f. A copy of the debtor's federal income tax returns for the most recent years before the filing of the petition
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Describe the six buyer-readiness stages along with the marketing strategies used at each stage
What will be an ideal response?
Dayton Hardware Store and Leighton Bank enter a loan agreement in which Leighton agrees to lend $10,000 on the security of Dayton's existing store equipment. A security agreement is executed and a financing statement is filed, but no funds are advanced. A week later, Dayton enters a loan agreement with Ramos Bank in which Ramos agrees to lend $10,000 on the security of the same store equipment
The funds are advanced, a security agreement is executed, and a financing statement is filed. A week later, Leighton Bank advances the agreed $10,000. Dayton defaults on both loans. In this case: A) between Leighton Bank and Ramos Bank, Ramos has priority because it advanced the funds before Leighton Bank did. B) between Leighton Bank and Ramos Bank, Leighton Bank has priority because it was the first to deal with Dayton in the matter. C) between Leighton Bank and Ramos Bank, Leighton Bank has priority because priority among security interests perfected by filing is determined by the order in which the financing statements were filed. D) neither bank needed to check filings of financing statements because the filings had no impact on which bank had priority.
Which of the following conditions indicate a company has a relatively high level of financial risk?
A. A low debt to assets ratio B. A high return on equity C. A high current ratio D. A low times-interest-earned ratio
In general, the expected monetary values (EMV) represent possible payoffs
Indicate whether the statement is true or false