Corey loaned Tori $8,000 and took back a note secured by Tori's car. If Tori files for bankruptcy when the value of the car is $4,500, what is Corey's status? He has:
A) a secured claim for $4,500.
B) an unsecured claim for $8,000.
C) an unsecured claim for $4,500.
D) a secured claim for $8,000.
A
You might also like to view...
The Thomlin Company forecasts that total overhead for the current year will be $15,000,000 and that total machine hours will be 200,000 hours. Year to date, the actual overhead is $15,500,000 and the actual machine hours are 220,000 hours. If the Thomlin Company uses a predetermined overhead rate based on machine hours for applying overhead, what is that overhead rate?
A) $71 per machine hour B) $78 per machine hour C) $68 per machine hour D) $75 per machine hour
Fact Pattern 32-1BLiz and Molly work as clerks in Nia's Dress Shop. Nia withholds federal taxes from their pay, and controls the methods and details of the performance of their work. Liz and Molly are not authorized to modify the prices or other terms of a sale at the shop.Refer to Fact Pattern 32-1B. Nia authorizes Liz to sell clothes at remote locations at prices that Liz negotiates in those locations. With respect to sales at those locations, Liz is
A. an independent contractor. B. Nia's employee only. C. Nia's employee and agent. D. Nia's principal.
Which of the following practices would be discriminatory?
a. placing an ad for a waitress b. placing an ad for a waiter c. placing an ad asking for "a recent college grad" d. all of these e. only a and b
John is in a high income-tax bracket and wishes to minimize current taxes payable. He also has a sizeable current income and prefers high growth rates to significant annual cash flow from his equity investments
Which of the following dividend polices would John most likely prefer if we assume that the dividend policy has no impact on the value of the firm and that the capital gains tax rate is lower than the ordinary tax rate? A) High-dividend-payout policy B) No-dividend-payout policy C) Low-dividend-payout policy D) John would be indifferent to all of the dividend policies.