Duncan Corp

question 22

Multiple Choice

Duncan Corp. is declared bankrupt. The Royal Bank has a mortgage on its manufacturing plant. Employees have a claim for $1,000 each for unpaid wages. The trustee in bankruptcy's fees are $10,000. An unpaid supplier of steel has a claim for products supplied. Which of the above is a secured creditor?

• A)The bank
• B)The employees
• C)The trustee in bankruptcy
• D)The steel supplier
• E)Both B and C

---

Definitions:

Lecithin

A fatty substance found in plant and animal tissues, composed of phospholipids, and is used as an emulsifier in food and pharmaceutical products.

Diterpene

A type of terpene consisting of four isoprene units, making up 20 carbon atoms, often found in essential oils and used in medicines and perfumes.

Prostaglandin

A collection of lipid compounds that are physiologically active and exhibit various hormone-like actions in animals.

Carboxyl Group

A functional group consisting of a carbon atom double-bonded to an oxygen atom and single-bonded to a hydroxyl group, denoted as -COOH in organic compounds.