In the Process of Liquidation, Some Types of Claims Receive

question 86

Multiple Choice

In the process of liquidation, some types of claims receive preference over other claims.Which one of the following determines which type of claim is paid first?

• A)Technical insolvency definition
• B)Absolute priority rule
• C)Accounting insolvency definition
• D)Chapter 7 of the Federal Bankruptcy Reform Act of 1978
• E)Securities and Exchange Commission

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Definitions:

PLC Input Interface

The PLC input interface is the component of a Programmable Logic Controller (PLC) where data from external devices is received and converted into a format that the PLC can process.

Field Devices

Equipment such as sensors, actuators, and transmitters located in the operational environment, directly interacting with the process or physical phenomena being controlled.

Processor

The central part of a computer or other digital systems that interprets and executes instructions.

Hand-Held Programming

The use of portable devices to program or configure machinery and equipment directly on the plant floor.