Which of the Following Circumstances Will NOT Result in the Annulment

question 29

Multiple Choice

Which of the following circumstances will NOT result in the annulment of a bankruptcy?

• A)The acceptance by a meeting of the creditors of a deed of composition or arrangement.
• B)An order of the court.
• C)The death of the bankrupt.
• D)The payment of the bankrupt's debts in full.

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Definitions:

Cumulative Nonparticipating Preferred Stock

A type of preferred stock that accumulates unpaid dividends but does not have a right to share in the company's earnings beyond the agreed rate.

Cash Dividends

Payments made by a company to its shareholders out of the company's profits in the form of cash.

Fair Market Value

It's the price at which an asset would change hands between a willing buyer and a willing seller, each having reasonable knowledge of all necessary facts.

Paid-in Capital

The total amount of money that shareholders have invested in a company by purchasing shares of stock.