Claims for Wages,salaries,or Commissions Have Priority in the Payment of Unsecured

question 21

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) all of the above.

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Definitions:

Average Variable Cost

The total variable cost divided by the quantity of output produced; it represents the variable cost per unit of output.

Marginal Cost

The incremental cost associated with the production of an additional unit of a product or service.

Total Costs

The complete expenses incurred in the process of producing or providing goods and services, including both fixed and variable costs.

Break Even

The point at which total costs and total revenues are equal, resulting in no net loss or gain.