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Card 92 / 100: Who gets first dibs on the earnings of a corporation—the bondholders or the stockholders?
Answer:
The bondholders. The stockholders are residual claimants, meaning they are only entitled to the assets of the corporation after everyone else (suppliers, lenders, laid-off employees filing a lawsuit, customers demanding a refund, etc.) has been satisfied.
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Dr.Robert MurphyAssociated Scholar
Mises Institute
USA
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Attribution:
Dr. Robert P. Murphy, Lessons for the Young Economist. (Mises Institute), http://mises.org/document/6215/Lessons-for-the-Young-Economist (Accessed 04 April, 2014). License: Creative Commons BY
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