The Priority of Claims Established by Chapter 7 of the Bankruptcy

Multiple Choice

The priority of claims established by Chapter 7 of the Bankruptcy Reform Act of 1978 gives priority to claims of ________.

A) unsecured creditors over claims of secured creditors
B) preferred stockholders over claims of unsecured creditors
C) wages payable over claims of unsecured creditors
D) farmers in grain storage over expenses of administering the bankruptcy