Which of the Following Claims Will Be Paid First from the Debtor's

question 57

Multiple Choice

Which of the following claims will be paid first from the debtor's estate under Chapter 7?

• A) A gap creditor with a claim of $2,000.
• B) A state claiming $5,000 in back taxes.
• C) The trustee's expenses of $3,000.
• D) Employees claiming unpaid wages of $5,000 for wages earned within 90 days of the bankruptcy filing.

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Definitions:

Cheerful

A mood or state of being noticeably happy or showing joyfulness and optimism.

Resistant Children

Kids who exhibit opposition or non-compliance to authority figures or guidelines, often as a part of their developmental process.

Distress

A negative stress response characterized by anxiety, sorrow, and pain, which can affect one's physical, mental, and emotional well-being.

Emotional

Pertaining to feelings or states of mind that are a response to situations, events, or interactions.