A, B and C are solidary debtors of W and Y, solidary creditors for P 12,000 where the share of the debtors in the obligation is 2:3:5 while the share of the creditors is 1:2. If B is a minor, which of the following is correct? a. W can collect from C P8,400 b. Y can collect from C P8,000 c. W or Y can collect from C P12,000 d. The insolvency of A will be shouldered by B and C in proportion to their respective obligations

A, B and C are solidary debtors of W and Y, solidary creditors for P 12,000 where the share of the debtors in the obligation is 2:3:5 while the share of the creditors is 1:2. If B is a minor, which of the following is correct? a. W can collect from C P8,400 b. Y can collect from C P8,000 c. W or Y can collect from C P12,000 d. The insolvency of A will be shouldered by B and C in proportion to their respective obligations

SWFT Essntl Tax Individ/Bus Entities 2020

23rd Edition

ISBN:9780357391266

Author:Nellen

Publisher:Nellen

Chapter4: Gross Income

Section: Chapter Questions

Problem 4CE

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A, B and C are solidary debtors of W and Y, joint creditors for P 12,000 where the share of the debtors in the obligation is 2:3:5 while the share of the creditors is 1:2. If A is insolvent, which of the following is correct? a. W or Y can collect from B and C P12,000 b. Y can collect from either B or C P8,000 c. Y can collect from C P6,400 d. W can collect from B P3,200
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