The priority of claims established by Chapter Seven of the Bankruptcy Reform Act of 1978 gives priority to
A. unpaid employee benefit plan contributions over unsecured customer deposits.
B. common stockholders over taxes.
C. taxes over expenses of administering the bankruptcy.
D. preferred stockholders over claims of secured creditors.
Answer:A
The priority of claims established by Chapter Seven of the Bankruptcy Reform Act of 1978 gives priority to
A. unpaid employee benefit plan contributions over unsecured customer deposits. B. common stockholders over taxes. C. taxes over expenses of administering the bankruptcy. D. preferred stockholders over claims of secured creditors.