Examlex
A Borda count is used to decide an election between three candidates, x, y, and z, where a score of 1 is awarded to a first choice, 2 to a second choice, and 3 to a third choice.There are 25 voters.3 voters rank the candidates x first, y second, and z third; 10 voters rank the candidates x first, z second, and y third; 6 rank the candidates z first, y second, and x third; and 6 voters rank the candidates y first, z second, and x third.Which candidate wins?
Note Payable
A written promise to pay a specific amount of money, either on demand or at a set future date, typically used in business to document debt agreements.
Debtor's Book Value
The value of all debts owed to a company, often reflecting the accounts receivable balance on the balance sheet.
Unsecured Creditors
Creditors who have lent money without taking any collateral, thus bearing a higher risk in case of debtor's default.
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