The Packer Video Company files for Chapter 7 bankruptcy. Its only non-exempt asset is a piece of equipment valued at $15,000 . The claims that have been approved by the trustee are as follows: (1) $2,500 in expenses of the trustee in the administration of the estate. (2) $4,000 in wages, salaries, and commissions earned by employees within ninety days before the filing of the bankruptcy petition
and the cessation of the business. (3) $500 in employment taxes owed to the state. (4) Unsecured claims in the amount of $10,000. (5) A perfected security interest in the amount of $2,000 which is held by First Bank and which is secured by the item of equipment. How much money will be available to pay the general unsecured creditors who have no priority?
a. $15,000
b. $13,000
c. $10,500
d. $6,000
e. No money will be available to pay the general unsecured creditors.
d
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Jerry loses his job during a layoff at his company. He's worried about not having access to his health insurance benefits anymore. However, his company is required to offer him the same health insurance coverage for up to 36 months following the layoff. Which federal law applies in this scenario?
A. Family and Medical Leave Act B. Affordable Care Act C. Employee Retirement Income Security Act D. Consolidated Omnibus Budget Reconciliation Act E. Social Security Act
What is a major recruiting strength for many not-for-profit organizations? What are some of the typical areas of involvement for these organizations?
What will be an ideal response?
A company that sets its goals and strategies based on what its current equipment can manufacture, what its engineering can design, and what the company itself can do best has a(n)_____orientation
a. marketplace b. sales c. exchange d. production
Dexxon Inc is a petrochemical company. The manager of the company was being questioned by the Environmental Protection Agency (EPA) with regard to the factory releasing criteria pollutants into the atmosphere
He admitted to the EPA that the company had falsified its financial records and tampered with the monitoring equipment. He also stated that the company would take suitable measures to correct it. Based on this scenario, the EPA's Final Policy on Penalty Reductions encouraged Dexxon Inc to engage in ________. A) environmental policy making B) restricting pollution C) reducing emission charges D) environmental self-auditing