Which of the Following Classes Is First in Priority Among

question 38

Multiple Choice

Which of the following classes is first in priority among unsecured creditors for payment of claims?

• A) Certain taxes and penalties due to government units
• B) Claims for domestic-support obligations, such as child support and alimony
• C) Claims for death or personal injury resulting from the unlawful operation of a motor vehicle
• D) Unpaid wages, salaries, and commissions

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Definitions:

Budgeted Unit Sales

An estimate of the number of units a company expects to sell over a certain period, often used for planning and strategic purposes.

Inventory Policy

A set of guidelines a company follows to determine the optimum levels of inventory to hold.

Direct Materials

Raw materials that are directly attributable and integral to the manufacturing of a product.

Ceramic Tile

A durable, hard surface tile made from clay that has been fired at high temperatures, used for covering floors, walls, or other surfaces.