The Double Diamond Ranch has assets of $3,000,000 and liabilities of $8,000,000. The owner of the Double Diamond has decided to make a general assignment for the benefit of creditors to satisfy a portion of the liabilities. This arrangement will provide OA) Equal payments to all creditors. B) Equal payments to the creditors consenting to the arrangement. C) Pro rata payments to the creditors consenting to the arrangement. D) Pro rata payments to all creditors. Beryl Barkam is starting a new business, Barkam Enterprises, which will be a sole proprietorship selling retail novelties. Barkam recently received a discharge in a Chapter 7 bankruptcy case, but certain proved claims were unpaid for lack of funds. Which of the following would be a claim against Barkam? OC) A personal loan by her father made in an attempt to stave off bankruptcy. A) The unpaid amounts owed to secured creditors who received less than the full amount after resorting to their security interests. B) The unpaid amounts owed to trade suppliers for goods purchased and sold by Barkam in the ordinary course of her prior business. D) The unpaid amount of taxes due to the United States that became due and owing within 3 years preceding bankruptcy. Buyer purchases a new smartphone for her personal enjoyment from Electronics Dealer. Without the knowledge of Buyer, Dealer has financed the purchase of all its inventory through Bux Finance Co. It also has given Bux a security interest in the inventory that Bux perfected by filing. On these facts, D) Buyer takes the smartphone free of any unperfected security interests but subject to any perfected ones. A) Bux loses its security interest because Buyer was a buyer in the ordinary course of business. B) Bux may repossess the collateral if Dealer defaults. C) Bux loses its security interest because the smartphone is a consumer good