A Bankrupt Tour Operator Has Assets of $485,000,made Up of a Boat

question 14

Multiple Choice

A bankrupt tour operator has assets of $485,000,made up of a boat worth $400,000,and prepaid docking rights worth $85,000.Claims include a security interest by a bank for $425,000 in the boat,$25,000 in unpaid taxes,and $25,000 owed to each of two general creditors.Each general creditor will receive

• A)$17,500.
• B)$20,000.
• C)$20,000,with $20,000 to taxes.
• D)$21,250.
• E)$21,250,with $21,250 to taxes.

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Definitions:

Crisis Hotlines

Dedicated phone lines or communication services offering immediate, anonymous support and counseling to individuals in emotional or psychological distress.

CISM

Critical Incident Stress Management, a process designed to lessen the impact of a traumatic event and accelerate recovery from or prevent the development of post-traumatic stress disorder.

Individual Counseling

A form of therapy where a single client works one-on-one with a therapist to discuss and work through personal issues, behaviors, or feelings.

Components

The distinct parts or elements that make up a larger system or whole.