What is required in a filing for a voluntary petition in bankruptcy? An involuntary petition?
A voluntary petition must be signed and sworn under oath and must state that the debtor has debts. The debtor does not have to declare insolvency. The petition must include (1) a list of secured and unsecured creditors (including addresses and amount of debt); (2) a list of all property owned by the debtor including any property claimed to be exempt; (3) a statement of the financial affairs of the debtor; and (4) a list of the debtor's current income and expenses.
An involuntary petition must allege that the debtor is not paying its debts as they come due. If the debtor has more than twelve creditors, the petition must be signed by at least three creditors. If there are twelve or fewer creditors, any creditor can sign. The signing creditor(s) must have valid unsecured claims of at least $10,000 in the aggregate. The debtor must file the same schedules filed by voluntary debtors.
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Which of the following represents all activities directly related to the sale of goods and services to the ultimate consumer for personal, nonbusiness use?
A. Product development B. Production C. Retailing D. Manufacturing
Purchases on account are given below:OctoberNovemberDecember30,00040,00050,00055% of the month's purchases will be paid in the month of the purchase; the remaining 45% will be paid in the following month.How much will the cash payments for purchases be in December?
A. $46,000 B. $45,500 C. $50,000 D. $44,500
The last step in the grievance process for nearly all union contracts in both the public and private sector is usually:
A. A hearing before the NLRB B. Mediation by the Federal Mediation and Conciliation Service C. A unilateral decision by management D. Final and binding arbitration
Scenario 12.2 Use the following to answer the questions. Suppose that Ray-Ban is considering a new line of sunglasses that would be sold in major department stores. The new line would be positioned as a more distinctive brand than the typical glasses sold through department stores, and would be priced higher than other brands in the store, but a lower price line than the current Ray-Ban lines that are sold through more selective stores. In determining the price for this sunglass line, Ray-Ban wants to gather information about all brands sold in department stores and about customers' perceptions of those brands. Refer to Scenario 12.2. Ray-Ban's plan of gathering information about the other brands sold in department stores, including their prices, would most likely be used in a ____ basis
for pricing. A. cost B. competition C. demand D. customer E. market