(Consider This) According to a Study of Hospitals, Power Plants

question 233

Multiple Choice

(Consider This) According to a study of hospitals, power plants, and water utilities, health and safety violations are more prevalent in public companies because

• A) private companies have greater technical expertise than public companies.
• B) public companies are less likely to be fined for violating health and safety laws than private companies.
• C) laws for public companies are more stringent, making it more difficult for public companies to comply.
• D) public companies are more closely monitored, making it easier to detect violations.

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Definitions:

Unsecured Creditors

Creditors who have loaned money without obtaining specific collateral, meaning they have no special claim to the borrower's assets if the borrower fails to pay.

Bankruptcy Discharge

The legal process that releases a debtor from personal liability for certain specified types of debts, effectively wiping the slate clean.

Bankruptcy Law

A legal framework governing the process by which individuals or entities unable to meet their financial obligations can seek relief from some or all of their debts.

Fraudulent Conveyance

The transfer of property with the intent to obstruct, delay, or defraud creditors.