Put the following classes in the order allowed by the Bankruptcy Act, starting with the highest priority to the lowest: 1)
Expenses to administer estate
2)
Tax claims of governmental units
3)
Wages (including salaries and commissions) up to $4,000 earned within 90 days
4)
Deposits up to $1,800 each for goods or services never received from the debtor

Question

Quizplus · Accepted Answer

The correct order of priority under the Bankruptcy Act is: 1) Expenses to administer estate, 3) Wages up to $4,000 earned within 90 days, 4) Deposits up to $1,800 for undelivered goods/services, 2) Tax claims of governmental units.

Put the Following Classes in the Order Allowed by the Bankruptcy