What must a creditor, who has taken security from a debtor, do to ensure being repaid before (have priority over) any other creditors?
A) It must have notified unsecured creditors
B) The debtor must not be engaged in bankruptcy proceedings.
C) The security must have been registered
D) The security must be in relation to tangible property
E) The court will decide who gets repaid first based on who is owed the most money
C
You might also like to view...
Which of the following refers to a display of a series of HR measures, showing human resource goals and objectives and the progress toward meeting them?
A. a relational database B. an expert system C. an HR dashboard D. a performance review template E. a job preview
Federal antidiscrimination laws prohibit employers from engaging in retaliation against an employee for filing a charge of discrimination.
Answer the following statement true (T) or false (F)
Clampett, Inc., converted to an S corporation on January 1, 2019. At that time, Clampett, Inc., had cash ($40,000), inventory (FMV $60,000, basis $30,000), accounts receivable (FMV $40,000, basis $40,000), and equipment (FMV $60,000, basis $80,000). In 2020, Clampett, Inc., sells its entire inventory for $60,000 (basis $30,000). Assume the corporate tax rate is 21 percent and that Clampett Inc.'s taxable income would have been a $50,000 loss in 2020 if it had been a C corporation. In 2021, Clampett, Inc.'s taxable income would have been $100,000 if it had been a C corporation. How much built-in gains tax does Clampett, Inc., pay in 2020? In 2021?
A. $0 in 2020; $0 in 2021. B. $0 in 2020; $10,500 in 2021. C. $10,500 in 2020; $0 in 2021. D. $2,100 in 2020; $0 in 2021. E. None of the choices are correct.
Freedom of expression is protected from government control in the United States by which one of the following?
A. Third Amendment D. McCain-Feingold Act B. Taft–Hartley Act E. Freedom of Information Act C. First Amendment