The Liquidator Ascertains That the Following Amounts Are Owed to the Parties

question 9

Multiple Choice

The liquidator ascertains that the following amounts are owed to the parties of Mainstreet Ltd:
$\quad$ I. $\quad$ employees' wages $45 000
$\quad$ II. $\quad$ creditors secured by a fixed charge $110 000
$\quad$ III. $\quad$ unsecured creditors $65 000
$\quad$ IV. $\quad$ annual leave for employees $110 000
-What is the order in which these parties will be paid? (From first to last reading left to right)

• A)I, II, III then IV
• B)II, I, IV then III
• C)I, IV, II then III
• D)II, I, III then IV

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