With reference to the United States Bankruptcy Code, which of the following is a disadvantage of bankruptcy to creditors?
A) Continued operation results in less funds to distribute at liquidation.
B) The going-concern value of an insolvent business is not preserved.
C) Creditor-in-possession is held accountable due to bankruptcy reporting and notice requirements.
D) A creditor cannot file an involuntary petition for relief under Chapter 7.
A
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Tess owns a building in which she rents apartments to tenants and operates a restaurant. Which of the following statements is incorrect?
A. If 60% of Tess’s gross income is from apartment rentals and 40% is from the restaurant, the rental operation and the restaurant business must be treated as separate activities. B. If 95% of Tess’s gross income is from apartment rentals and 5% is from the restaurant, she may treat the rental operation and the restaurant business as a single activity that is a rental activity. C. If 5% of Tess’s gross income is from apartment rentals and 95% is from the restaurant, she may treat the rental operation and the restaurant business as a single activity that is not a rental activity. D. If 98% of Tess’s gross income is from apartment rentals and 2% is from the restaurant, the rental operation and the restaurant business must be treated as a single activity that is not a rental activity. E. None of these is correct.
Which of the following is the BEST example of concise communication?
a. All those employees who are on a salary basis will not receive compensation for number of hours worked in excess of 40 hours per week. b. Compensation is not available for salaried employees who are asked to work overtime to complete the excess workload. c. It is standard company policy that those who are salaried as managers are expected to work overtime with no financial compensation. d. Salaried employees will not receive financial compensation for overtime work.
In some U.S. states, disputes involving less than a certain amount of money automatically go to arbitration
Indicate whether the statement is true or false
Section ________ of the Clayton Act prohibits fictitious brokerage payments
A) 2(a) B) 2(d) C) 2(c) D) 2(f)