True or false?
a. It makes sense to evaluate the credit managers performance by looking at the proportion of bad debts.
b. When a company becomes bankrupt, it is usually in the interests of the equity-holders to seek a liquidation rather than a reorganization.
c. A reorganization plan must be presented for approval by each class of creditor.
d. Canada Revenue Agency has first claim on the company's assets in the event of bankruptcy.
e. In a reorganization, creditors may be paid off with a mixture of cash and securities.
f. When a company is liquidated, one of the most valuable assets to be sold is often the tax-loss carry-forward.