If a Corporation Goes Bankrupt, Who Among the Following Has

question 219

Multiple Choice

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

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

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Definitions:

Opinion

A statement that expresses a belief, view, or judgment, rather than an objective fact.

CISG

The United Nations Convention on Contracts for the International Sale of Goods (CISG) is an international treaty that provides a uniform framework for the international sale of goods.

Fit for the Purposes

A term indicating that something is suitable or appropriate for the intended or specified use.

Seller

An individual or entity that transfers goods, property, or services to a buyer in exchange for money or other forms of compensation.