Multiple Choice
Which of the following statements is true about chapter 7 bankruptcy?
A) All debtors qualify for chapter 7 under the BAPCPA.
B) The court cannot liquidate the non-exempt assets of a debtor who files for chapter 7 bankruptcy.
C) The liquidation that occurs in a chapter 7 bankruptcy is used to re-commence the business after the bankruptcy is over.
D) Only individuals,rather than partnerships,may receive a discharge under chapter 7 bankruptcy.
E) Corporations that satisfy the means test established by the BAPCPA may file for chapter 7 bankruptcy.
Correct Answer:
Verified
Correct Answer:
Verified
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