If a Corporation Goes Bankrupt,which of the Following Has First

question 217

Multiple Choice

If a corporation goes bankrupt,which of the following has first claim on the firm's assets?

• A)stockholders
• B)the state where chartered
• C)employees
• D)bondholders

---

Definitions:

Vacation Entitlement

The amount of paid leave time an employee is eligible for, based on the terms of their employment.

Defined Benefit Plans

A type of pension scheme where the benefits that an employee will receive upon retirement are predetermined based on factors like salary history and duration of employment.

Societal Objectives

Goals or aims that benefit society as a whole, often pursued by organizations, governments, or groups seeking to improve quality of life, social welfare, or community development.

Economic

Pertaining to the production, distribution, and consumption of goods and services and the management of money and resources.