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zaharov [31]
2 years ago
10

Agnes plans to file for bankruptcy under Chapter 7. One month prior to filing, Agnes gives Joe's Filling Station $700 to apply t

o her gas bill. Joe has been so kind to let her charge the gas she needed for her car over the past year. The bankruptcy trustee appointed to the case:
(A) can cancel the payment to Joe as a fraudulent transfer.
(B) cannot cancel the payment to Joe because it is payment for an existing debt.
(C) cannot cancel the payment to Joe because he is not an insider.
(D) can cancel the payment to Joe as a voidable preference.
Business
2 answers:
frez [133]2 years ago
7 0

Answer: D

Explanation: A primary goal of bankruptcy is to treat creditors fairly and equally. The automatic stay effectuates this goal by stopping the creditors' race for the debtor's assets. However, a debtor can usually see that he will probably file for bankruptcy at least a couple of months before he actually files and after learning about how bankruptcy works, he may try to pay some creditors over others before filing. A debtor may prefer certain creditors, because they are relatives or friends or officers of a corporate debtor, or the debtor may have a continuing relationship with the creditor, such as a family doctor, that he doesn't want to jeopardize.A preference (aka preferential transfers) occurs when a debtor transfers money or an interest in the debtor's property to a creditor that is greater than what the creditor would have received in a Chapter 7 liquidation. an avoidable preference is a transfer or payment made to a creditor by a debtor that the bankruptcy trustee later seeks to recoup for the benefit of the bankruptcy estate and repayment of the estate's creditors. This is in accordance with the priority scheme prescribed by the Bankruptcy Code as opposed to the unilateral preference of the debtor and/or the original creditor receiving the payment . Many creditors never want to enounter avoidable preference litigation because it usually means a loss of time and attorneys' fees that must be expended to defend such suits.The purpose of avoidable preference litigation and the rationale behind the term's inclusion in the Bankruptcy Code is to fairly distribute the debtor's assets to creditors in an orderly scheme.

quester [9]2 years ago
4 0

Answer:

The correct answer is letter "D": can cancel the payment to Joe as a voidable preference.

Explanation:

Voidable preferences are the transfer of assets from a debtor to a creditor before the debtor files for bankruptcy. Those assets will have to be returned by the debtor to the state where the bankruptcy was requested. Voidable preferences take place when the transfer is regarding a debt prior to the filing for bankruptcy and when the debtor's financial situation is insolvent (90 days before filing the request).

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A marketing consultant, Sofia, has been studying the effect of increasing advertising spending on product sales. Sofia conducts
UkoKoshka [18]

No, because 100,000 is much greater than the values used in the experiment

Explanation:

The advertisement budget is an estimation of the company's commercial spending for a specified amount of time. More specifically, it is the capital that a organisation is able to put aside to accomplish its marketing goals.

In developing an advertisement budget, a corporation must balance the importance of the promotional dollar against the value of the dollar as known revenue.

Better promotional budgets — and campaigns — focus on consumers' desires and address their challenges, not on business concerns such as overstock elimination.

5 0
2 years ago
Brokers prepare a broker file that has all of the documents that may have a material effect upon the rights or obligations of a
s2008m [1.1K]

Answer:

One year from the date of the listing if the transaction is not consummated.

Explanation:

Retention period is the number of years as enforced by the law that a certain records must be kept compulsorily before it is eligible for destruction. The retention period shall be 1 one year from the date of the from the date of listing or closing of the transaction if the transaction is not consummated. Retention period is generally in many cases is 1 year and not more than that.

6 0
2 years ago
Think about ways tanya could save on education expenses. are there scholarships or grants for which she can apply? if so, which
Amanda [17]
Since Tanya's parents are from Haiti, there may be grants or scholarships that focus on students from that culture or ethnic background. She might also be eligible for scholarships for Hispanic or bilingual students. She can also apply for scholarships only available to women and anything that might focus on her area of study. Her parents most likely do not have a savings plan started for her but, they should definitely make one because it would help them save a lot of money. Another way to save money is to apply to lesser-known colleges because it would bring down the cost of tuition.
5 0
2 years ago
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Wexford Industrial Supply is considering a new project with estimated depreciation of $26,000, fixed costs of $79,000, and total
slava [35]

Answer:

6949 units

Explanation:

Given:

Estimated depreciation of the new project = $26,000

Fixed cost = $79,000

Total sales = $187,000

Estimated variable costs per unit = $11.80

let the break-even production be 'n'

Now,

the break-even point is achieved when there is no profit no loss

thus,

Profit = 0

Also,

Profit = Total sales - Fixed cost - (Total variable cost) - Estimated depreciation

or

0 = $187,000 - $79,000 - ( $11.80 × n) - $26,000

or

11.80 × n = 82000

or

n = 6949.15 ≈ 6949 units

8 0
2 years ago
Which of the following is not an input to the aggregate planning process? A. demand forecast B. cost information C. policies on
ale4655 [162]

Answer:

The correct answer is E. master production schedules.

Explanation:

Master production schedules is not an input to the aggregate planning process  all other options are its input,

Aggregate planning process is an attempt to respond to predicted demand within the constraints set by product, process and location decisions.

Hence, master production schedules is not a relevant input for this planning process but can be a result of the aggregate planning process. In other words master production schedule is formed after aggregated planning has been completed.

6 0
1 year ago
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