Describe the two types of bankruptcy.
What will be an ideal response?
There are two types of bankruptcy: ordinary, or straight, bankruptcy, and Chapter 11 bankruptcy, or reorganization. Ordinary bankruptcy occurs when a debtor files an application with a court claiming that debts exceed assets and asks to be declared bankrupt. When one or more creditors file the bankruptcy petition against the debtor, it's called involuntary bankruptcy.
Chapter 11 of the Bankruptcy Reform Act of 1978 contains a provision for reorganizing the bankrupt business, whether the bankruptcy petition is filed voluntarily or involuntarily. Thus, the firm can continue to operate while its debts are being repaid. However, if the business is so far gone that it cannot keep operating, it must be liquidated.
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The company has its camera and drone assembly facilities in ________
Fill in the blank(s) with the appropriate word(s).
When does risk of loss pass in a sale of goods that does not involve a common carrier?
A) Upon tender of delivery for both merchant sellers and nonmerchant sellers B) Upon tender of delivery for merchant sellers and when goods are received by the buyer in the case of nonmerchant sellers C) When goods are received by the buyer for both merchant sellers and nonmerchant sellers D) Upon tender of delivery for nonmerchant sellers and when goods are received by the buyer in the case of merchant sellers
Which of the following would be an exception to preferential treatment?
A) A BFOQ B) Seniority or merit system C) Misconduct D) All of the above are exceptions.
Which one of the following factors is not appropriate for use in prioritizing the areas/activities to include in a productivity improvement program?
A. Cost-benefit ratio of each area/activity B. Amount of improvement in each area/activity that is anticipated C. Extent to which the area/activity encompasses the entire organization D. Attitude of each of the task force members about the areas/activities being considered