In case of bankruptcy, which stakeholders will be last to be paid after all those who have a claim on the income and assets of the corporation?

	A.	The bondholders
	B.	The equity stockholders
	C.	The creditors
	D.	Government stakholders

Calculate the average collection period for T&K Inc. if its accounts receivables were $600 at the beginning of a year in which the firm generated $9,125 of sales?

	A.	67 days
	B.	18 days
	C.	24 days
	D.	49 days

Suppose Company A just acquired assets of Company B. The book value of Company B assets was $68,000 but Company A paid a total of $75,000. The additional $7,000 paid by Company A will be recorded on Company A's balance sheet as:

	A.	Property, Plant & Equipment
	B.	Other current assets
	C.	Goodwill
	D.	Accounts Payable