Under a Chapter 7 Bankruptcy,which One of the Following Is

question 44

Multiple Choice

Under a Chapter 7 bankruptcy,which one of the following is generally considered to be the highest priority claim?

• A)Consumer claim
• B)Payment of employee wages
• C)Payment to an unsecured creditor
• D)Company contribution to the employees' retirement account
• E)Dividend payment to preferred shareholder

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Definitions:

Secular Purpose

Refers to a non-religious or non-spiritual objective or function, often mentioned in the context of laws or policies to ensure neutrality.

Government Entanglement

A situation where the actions, policies, or laws of a government are deeply involved or intertwined with a private entity or religious organization, raising constitutional concerns.

Dormant Commerce Clause

The dormant commerce clause refers to the implicit restriction in the U.S. Constitution that prohibits states from enacting legislation that discriminates against or excessively burdens interstate commerce.

Ordinance

A piece of legislation enacted by a city or town government dealing with a variety of matters like zoning, safety regulations, and public behavior.