Which of the Following Items Is NOT a Specified Priority

question 33

Multiple Choice

Which of the following items is NOT a specified priority for unsecured creditors in a bankruptcy petition?

• A) Administration fees incurred in administering the bankrupt's estate.
• B) Unsecured claims for wages earned within 90 days and are less than $4,650 per employee.
• C) Unsecured claims of governmental units for unpaid taxes.
• D) Unsecured claims on credit card charges that do not exceed $3,000.

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Definitions:

Angel Investor

A well-off individual who invests in a start-up, commonly in return for a stake in equity or convertible debt.

Due Diligence

An investigation, audit, or review performed to confirm the facts of a matter under consideration, commonly used in business for verifying financial records before entering into a proposed transaction.

Exit Plan

A strategic plan developed by business owners and investors to sell their stake in a company to realize their investment's value.

American Research and Development

One of the early American venture capital firms, ARD is known for its investment in companies such as Digital Equipment Corporation.