You Are a Duly Licensed and Appointed Trustee to Handle

question 41

Multiple Choice

You are a duly licensed and appointed trustee to handle the Markin Brothers bankruptcy.You have taken possession of both personal and business assets of Sam and Joe Markin.You have retrieved all the books and documents relating to their affairs.You also have the authority to do each of the following EXCEPT

• A)borrow further money for the business by pledging any remaining unsecured assets.
• B)negotiate with creditors to take specific assets in lieu of a money settlement.
• C)dismiss any unqualified inspectors.
• D)take over the management of the business.
• E)employ a lawyer,who will be paid out of bankruptcy funds.

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Definitions:

Regular Appointment

A scheduled meeting or visit, typically for a medical or professional purpose, occurring at a routine or expected time.

Weekly Schedule

A plan that outlines tasks, appointments, and activities over the course of a week.

Noon

The middle of the day, typically regarded as the moment when the sun is at its highest point in the sky.

Reminder Call

A phone call, often automated, intended to remind or alert someone about an appointment, due date, or other important event.