1) In a bankruptcy proceeding, which of the following debts will have the highes
ID: 447256 • Letter: 1
Question
1) In a bankruptcy proceeding, which of the following debts will have the highest creditor priority? A. Government tax claims. B. Employees who are owed wages earned within 90 days of filing. C. Consumers who have paid deposits or prepayments for undelivered goods or services up to $1,800 per consumer. D. Creditors with claims in the ordinary course of business incurred after the bankruptcy was filed. E. General creditors.
2)The Fair Credit Billing Act limits a customer's liability for a thief's use of a stolen credit card to a maximum of $500. true or false
3)
ECNAL Corp. manufactures bicycle parts and equipment. One of their new products, the Slipstream tire, is advertised to be 5 percent faster than the competition due to a new rubber compound used that reduces road drag and friction significantly. After receiving complaints of fraud, the FTC determines that the tire is made from rubber similar to that found in most bicycle tires and it does not, in fact, reduce road drag and friction any more than other tires on the market. The FTC has ordered ECNAL to include in their advertising the truth about the tire materials and their quality and specifically state that the Slipstream tire does not improve speed or performance. The FTC has ordered ENCAL to engage in:
social advertising.
4)
In a bankruptcy proceeding against an individual, debts are adjusted under Chapter 13 of the bankruptcy law.
True
False
5) Under the Right to Financial Privacy Act of 1978, the individual depositor has the right to challenge an agency's legal basis for seeking the financial records. true or false
A. corrective advertising. B. cease and desist advertising. C. comparative advertising. D. parody advertising. E.social advertising.
4)
In a bankruptcy proceeding against an individual, debts are adjusted under Chapter 13 of the bankruptcy law.
True
False
5) Under the Right to Financial Privacy Act of 1978, the individual depositor has the right to challenge an agency's legal basis for seeking the financial records. true or false
Explanation / Answer
1) A
2) True
3) A
4) True
5) True
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