In Relation to the Order of Priority of Payment of Debts

question 13

Multiple Choice

In relation to the order of priority of payment of debts upon liquidation,which statement is correct?

• A)ordinary unsecured creditors rank before preferential unsecured creditors;
• B)preferential unsecured creditors rank before deferred creditors;
• C)deferred creditors rank before ordinary unsecured creditors;
• D)deferred creditors rank before secured creditors.

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Definitions:

Skill-Level

The degree of competence or proficiency an individual has in performing a specific task or activity, often measured against an established standard.

Perform Actions

The process of carrying out activities or executing tasks, often guided by intention, planning, or motivation.

Ability

The possession of the means or skill to do something, often referring to natural aptitude or acquired proficiency.

Heckhausen & Schulz

Represents researchers known for their work on motivation, control, and aging, particularly focusing on how individuals manage life's transitions and challenges.