Grundy's employer recently assigned itself into bankruptcy,leaving Grundy unpaid in the amount of $1,800 for back wages.Which category of creditor describes Grundy?

Question

Quizplus · Accepted Answer

Grundy falls into the category of a preferred creditor because employees owed back wages by a bankrupt company are often given priority in the distribution of the company's remaining assets, making them preferred creditors.

Grundy's Employer Recently Assigned Itself into Bankruptcy,leaving Grundy Unpaid in the Amount