If a corporation goes bankrupt, who among the following has first claim on the firm's assets?

Question

Quizplus · Accepted Answer

Bondholders have first claim on a corporation's assets in the event of bankruptcy, as they are creditors who loaned money to the company and hold a legal claim on the assets. Stockholders may receive some assets after bondholders have been paid, but this is not guaranteed. The state where the corporation was chartered and employees typically do not have priority claims on the corporation's assets in bankruptcy.

If a Corporation Goes Bankrupt, Who Among the Following Has