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If a company is liquidated, proceeds from asset sales are distributed to common shareholders: a) before unsecured debt investor and preferred shareholder claims are paid

If a company is liquidated, proceeds from asset sales are distributed to common shareholders:

a) before unsecured debt investor and preferred shareholder claims are paid

b) before secured debt investor and preferred shareholder claims are paid

c) after preferred shareholder claims are paid but before unsecured debt investor claims are paid

d) after secured debt investor and preferred shareholder claims are paid

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