Question

amount due to the government for purchase of goods is an example of
a preferential creditors
b unsecured creditor
c secured creditor​

Answer 1

Answer:

An unsecured creditor is essentially an individual or institution that lends money without obtaining specified assets as collateral. Unsecured creditors are generally placed into two categories: priority unsecured creditors and general unsecured creditors.

An unsecured creditor is essentially an individual or institution that lends money without obtaining specified assets as collateral. Unsecured creditors are generally placed into two categories: priority unsecured creditors and general unsecured creditors.As their name suggests, unsecured priority creditors are higher in the pecking order than general unsecured creditors when it comes to claims over any assets in a bankruptcy filing.

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