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

question 22

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:

High Self-monitoring

A personality trait characterized by a high level of sensitivity to social cues and adaptability in behavior depending on the situation.

Emotional Stability

A personality trait characterized by the ability to remain calm, composed, and steady, especially under stress or during challenging situations.

External Locus

A belief that one's life events are predominantly controlled by external forces or circumstances beyond one's personal control.

Short Tenure

A brief period of time someone holds a particular title, office, or position.