In Relation to the Order of Priority of Payment of Debts

question 21

Multiple Choice

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

• A) Ordinary unsecured creditors are paid before preferential unsecured creditors.
• B) Preferential unsecured creditors are paid before deferred creditors.
• C) Deferred creditors are paid before ordinary unsecured creditors.
• D) Deferred creditors are paid before secured creditors.

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Definitions:

Savanna

A mixed landscape of grasslands interspersed with scattered trees and shrubs, often found in tropical or subtropical regions.

Hydrologic Cycle

The hydrologic cycle is the continuous movement of water on, above, and below the surface of the Earth, involving processes such as evaporation, precipitation, and infiltration.

Mountain Biomes

Mountain biomes are ecosystems found in mountainous regions, characterized by distinct climatic conditions at different elevations, leading to diverse flora and fauna adapted to those conditions.

Atmospheric Changes

Alterations in the Earth's atmosphere's composition or properties, often due to natural processes or human activities, that can affect climate and living conditions.