Question

unsecured creditors are paid in the following order​

Answer 1

Answer:

followering

Explanation:

unsecured

Answer 2

We are asked the question ' Unsecured creditors are paid in the following order '

• Unsecured creditors are the creditors of the company and include trade creditors and suppliers.
• The unsecured creditors are paid from the asset left after paying to secured creditors.
• After paying all the outside parties which include both secured creditors and unsecured creditors partners are paid.
• Unsecured creditors include employees who are owed money.
• The above is the case of a partnership firm but even in the case of the company, the secured creditors will be paid first.
• After the secured creditors, the unsecured creditors will be paid. and only after that will the stockholders or shareholders be paid