Thirty-one days before filing a petition in bankruptcy, Frida transfers property and makes payments that favor one creditor over another. These are
A. affirmation agreements.
B. preferences.
C. secured interests.
D. unsecured debts.
Answer: B
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Which of the accounts below would appear in the Balance Sheet columns of the work sheet?
A) Service Revenue B) Prepaid Rent C) Supplies Expense D) None are correct
The expected average rate of return for a proposed investment of $4,800,000 in a fixed asset, using straight line depreciation, with a useful life of 20 years, no residual value, and an expected total net income of $8,640,000 is:
A) 25% B) 18% C) 40% D) 9.0%
A covenant is an unconditional promise to perform
Indicate whether the statement is true or false
What phrase explains how a requirements contract can be valid?
a. "will buy 100 percent of output" b. "willing to accept the entire quantity" c. "no consideration needed" d. "in good faith"