Which of the Following Is an Example of an Ordinary

question 30

Multiple Choice

Which of the following is an example of an ordinary unsecured creditor?

• A) Trade creditors.
• B) Liquidator's remuneration.
• C) Workers' injury compensation claims.
• D) Retrenchment payments payable to employees of the company other than a director or a relative of a director.

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Definitions:

Ethical Problem

A situation that requires a person or organization to choose between alternatives that must be evaluated as right (ethical) or wrong (unethical).

Unearned Accounting Fees

Fees received for accounting services that have not yet been performed, considered a liability until the services are provided.

Accounting Services

Professional services that include bookkeeping, tax preparation, auditing, and financial analysis for individuals or businesses.

Unadjusted Trial Balance

A financial statement listing all the accounts and their balances before any adjustments are made, used for internal purposes to check the balance of debits and credits.