In details explain what's secured creditors and unsecured creditors
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In details explain what's secured creditors and unsecured creditors
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- Identify the strengths and weaknesses of each term and their impact. Terms: Financial accounting system, Termination policies, and legal principlesWho is responsible for completing and providing the Residential Property Condition Disclosure Statement to the purchaser? 1. owner 2. investor 3. listing agent 4. selling agent. Explain what constitutes an act of bankruptcy according to canadian law
- Explain Subcontracting?What would be the priority of the claims as to the distribution of assets in a liquidation under Chapter 7 of the Bankruptcy Act? 1 is the highest claim, 5 is the lowest. (1) Trustees' costs to administer and operate the firm. (2) Common stockholders. (3) General, or unsecured, creditors. (4) Secured creditors, who have a claim to the proceeds from the sale of specific property pledged to secure a loan. (5) Taxes due to federal and state governments. Oa. 4, 1, 5, 3, 2 Ob. 1, 5, 4, 3, 2 Oc. 1, 4, 3, 5, 2 Od. 5, 1, 4, 2, 3 Oe. 5, 4, 1, 3, 2ABC Bank was forced to close because its building was destroyed by fire. Mr. A, one of its depositors filed an insurance claim with the PDIC. Will the claim prosper? Answer with reasons.
- Explain how the income of corporations is double taxed and what a corporation can do to minimize their tax burden?Discuss the legal responsibilities and liabilities of directors and officers in a corporation. What fiduciary duties do they owe to the company and its shareholders? What are the potential legal consequences for breaching these duties?Suppose you had inside information that your employer was thinking about declaring bankruptcy, and you find out that a family member was about to purchase $20,000 in the stock of your employer. To what extent would it be unethical for you to dissuade the family member from making the investment?
- What elements determine firm performance? Explain.Discuss the role of securities law in regulating the issuance and trading of stocks and bonds, as well as the legal obligations of companies in providing accurate and timely financial information to investors.What is the nature and extent of Surety ' s of liability ?