Claims for Wages, Salaries, or Commissions Have Priority in the Payment

question 47

Multiple Choice

Claims for wages, salaries, or commissions have priority in the payment of unsecured debts over:

• A) costs and expenses of the administration of the bankruptcy case.
• B) claims arising in the ordinary course of business after commencement of the case.
• C) claims arising for contributions to employee benefit plans.
• D) none of the above.

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Definitions:

Budget Line

A visual depiction showing every potential pairing of two products that a specific budget can buy at predetermined prices.

Horizontal Axis

The x-axis in a graph, typically representing the independent variable or the quantity of goods in economic graphs.

Vertical Axis

In a graph or chart, the y-axis along which numerical data, typically representing a variable being measured, is plotted.

Budget Line

A graphical representation of all possible combinations of two goods which a consumer can purchase with a given budget, at fixed prices for those goods.