The Priority of Claims Established by Chapter 7 of the Bankruptcy

question 37

Multiple Choice

The priority of claims established by Chapter 7 of the Bankruptcy Reform Act of 1978 gives priority to claims of ________.

• A) unsecured creditors over claims of secured creditors
• B) preferred stockholders over claims of unsecured creditors
• C) wages payable over claims of unsecured creditors
• D) farmers in grain storage over expenses of administering the bankruptcy

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