The primary objective of the trustee is:

a. to deplete the debtor's estate
b. to protect general creditors first
c. to ensure that the debtor's exempt property is liquidated
d. to maximize the amount of the debtor's assets that the trustee is paid e. none of the other choices


e

Business

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The two major product categories are business and institutional.

Answer the following statement true (T) or false (F)

Business

Use the information in the adjusted trial balance presented below to calculate current assets for Taron Company:Account TitleDr CrCash$23,000    Accounts receivable 16,000    Prepaid insurance 6,600    Equipment 100,000    Accumulated depreciation-Equipment   $50,000 Land 95,000    Accounts payable    17,000 Interest payable    2,400 Unearned revenue    5,000 Long-term notes payable    30,000 Z. Taron, Capital    136,200 Totals$240,600 $240,600 

A. $45,600. B. $41,200. C. $95,600. D. $21,200. E. $24,400.

Business

Norris Production Company (NPC) is considering a project that has an up-front cost at t = 0 of $2,400. (All dollars in this problem are in thousands.) The project's subsequent cash flows are critically dependent on whether a competitor's product is approved by the Food and Drug Administration. If the FDA rejects the competitive product, NPC's product will have high sales and cash flows, but if the competitive product is approved, that will negatively impact NPC. There is a 50% chance that the competitive product will be rejected, in which case NPC's expected cash flows will be $700 at the end of each of the next seven years (t = 1 to 7). There is a 50% chance that the competitor's product will be approved, in which case the expected cash flows will be only $50 at the end of each of the

next seven years (t = 1 to 7). NPC will know for sure one year from today whether the competitor's product has been approved. ? NPC is considering whether to make the investment today or to wait a year to find out about the FDA's decision. If it waits a year, the project's up-front cost at t = 1 will remain at $2,400, the subsequent cash flows will remain at $700 per year if the competitor's product is rejected and $50 per year if the alternative product is approved. However, if NPC decides to wait, the subsequent cash flows will be received only for six years (t = 2 ... 7). In addition, once NPC knows the outcome of the FDA's decision, it will not take on the project if its NPV is negative. ? This is a risky project, so a WACC of 16.0% is to be used. If NPC chooses to wait a year before proceeding, what is the value (in thousand) of the timing option today? Do not round intermediate calculations. ? A. $88.88 B. $92.75 C. $73.43 D. $77.29 E. $57.97

Business

Josie wants to compare pre-tax profit margin and percent earned on equity trends for General Motors with Procter & Gamble, since they are both large U.S. corporations. Is this a wise move? How would you advise Josie to use this data?

What will be an ideal response?

Business