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Christopher Is the Owner of Christopher's Typing and Legal Services

question 16

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Christopher is the owner of Christopher's Typing and Legal Services. Sophia goes to Christopher and says "I have to file bankruptcy because my house went into foreclosure. Where should I start?" Christopher takes Sophia to a wall filled with clear boxes of forms and says "Pick the form that you want to use." When Sophia starts to pull the Chapter 11 form out of the box, Christopher shakes his head very slightly. Sophia puts the form back. Then she reaches for the Chapter 7 form and glances sideways at Christopher. He smiles. Christopher


Definitions:

Employees

Individuals who are hired by a business to perform tasks in exchange for wages, benefits, or salaries.

Accounts Receivable

Money owed to a business by its customers for goods or services delivered or used but not yet paid for.

Maker

In financial terms, the party that creates or issues a financial instrument, such as a check or promissory note.

Payee

The individual or entity to whom a payment is to be made or credited.

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