上海对外经贸大学 高级财务会计学笔记-高级财务会计学（英）chapter 18.pdfVIP

AdvancedAccounting,12e(Beamsetal.)

Chapter18CorporateLiquidationsandReorganizations

18.1MultipleChoiceQuestions

1)WhenthebankruptcycourtgrantsanorderforreliefunderChapter7,

A)creditorsmaynotseekpaymentfortheirclaimsdirectlyfromthedebtorcorporation.

B)thereorganizationplanwasacceptedbycreditorshavingatleastone-halfofthetotalnumberofclaims

andtheclaimsrepresentatleasttwo-thirdsofthetotalamountowed.

C)thebankruptcycourtconfirmsthatthereorganizationplanisfairandequitabletocreditors.

D)thecourtdischargesthedebtorexceptforthoseclaimsprovidedforinthereorganizationplan.

Answer:A

Objective:LO2

Difficulty:Easy

2)WhichofthefollowingmustapproveaChapter11plan?

A)Theorganizationsmanagementandtheassignedtrustee

B)Theassignedtrusteeandcreditors

C)Theassignedtrusteeandentitysstockholders

D)Thebankruptcycourtandthecreditors

Answer:D

Objective:LO1

Difficulty:Easy

3)Whenacorporationstotalliabilitiesaregreaterthanthefairvalueoftotalassets,thefirmis

A)adistressedcorporation.

B)abankruptcorporation.

C)insolventintheequitysense.

D)insolventinthebankruptcysense.

Answer:D

Objective:LO1

Difficulty:Easy

4)Abankruptcypetitionfiledbyafirmscreditorsis

A)aChapter2petition.

B)apetitionforliquidation.

C)aninvoluntarypetition.

D)avoluntarypetition.

Answer:C

Objective:LO1

Difficulty:Easy

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5)ThedutiesofadebtorinpossessioninaChapter11bankruptcycasedonotinclude

A)filingalistofcreditorsandschedulesofassetsandliabilitieswiththebankruptcycourt.

B)operatingthebusinessduringthereorganizationperiod.

C)filingareorganizationplan.

D)issuinganorderofrelief.