Tangent Corporation Was Forced into Bankruptcy and Is in the Process

question 23

Multiple Choice

Tangent Corporation was forced into bankruptcy and is in the process of liquidating assets and paying claims. Unsecured claims will be paid at the rate of thirty cents on the dollar. Arrow holds a note receivable from Tangent for $90,000 collateralized by an asset with a book value of $60,000 and a liquidation value of $30,000. The amount to be realized by Arrow on this note is:

• A) $30,000.
• B) $48,000.
• C) $60,000.
• D) $90,000.

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Definitions:

Dominance Hierarchies

Social structures in animal societies where individuals are ranked based on behavior, strength, or some other criteria, affecting access to resources or mates.

Primate Societies

The complex social structures and behaviors observed in primates, including humans, monkeys, and apes.

Territoriality

A behavioral pattern in animals where an area is regularly patrolled and defended against intruders, often associated with claiming resources.

Aggregations

Collections or clusters of items, individuals, or particles that come together but are not strictly bound to each other.