LD Inc Declared Bankruptcy Through a Chapter 7 Filing

question 100

Multiple Choice

LD Inc. declared bankruptcy through a Chapter 7 filing. Consider the following data in millions of dollars and determine the funds available for secured creditors.
-Proceeds from the liquidation of assets = $395
-First mortgage = $100
-Administration expenses associated with the bankruptcy = $2
-Notes payable to the banks = $205
-Subordinated debentures = $350
-Taxes due to federal, state, and other governmental agencies = $12
-Wages due employees (1,000 employees) = $3

• A) $379
• B) $378
• C) $278
• D) $279

---

Definitions:

Somatic Motor Nervous System

A part of the peripheral nervous system that controls voluntary movements of the body by innervating skeletal muscles.

Conscious Movement

Voluntary actions and movements controlled by the brain, reflecting awareness and intent.

Receptor Molecules

Proteins located either on the cell surface or inside of a cell that bind to specific molecules like hormones, neurotransmitters, or drugs, initiating a physiological response.

Muscarinic

Relating to or denoting the type of acetylcholine receptor found in various organs that responds to muscarine.