A Break Bulk Ship

question 23

Multiple Choice

A break bulk ship:

• A) handles only bulk cargo
• B) would require that shipments be crated for handling
• C) sails in lanes where liners do not operate
• D) allows vehicles to roll on or roll off

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Definitions:

Ordinary Unsecured Creditors

Creditors whose debts have no preferential treatment under the Corporations Act and are the last to be paid before funds are returned to contributories.

Preferential Unsecured Creditor

A creditor who is not secured by collateral but has the right to be paid before other unsecured creditors in the event of a debtor's bankruptcy.

Trade Creditors

Entities to whom money is owed for goods and services provided in the normal course of business, but which has not yet been paid.

Liquidator's Fee

Charges or payments made to a liquidator for the process of winding up a company, disposing of its assets, and discharging its liabilities.