Multiple Choice
Vernon owns a family run farming business.He earned $100,000 in the current financial year.He owes $70,000 that he cannot pay.This debt forms a part of his farm expenses to creditors,but he wants to keep the business running.Which type bankruptcy should Vernon file for?
A) Chapter 7 only
B) Chapter 11 and Chapter 7
C) Chapter 7 and Chapter 12
D) Chapter 12
Correct Answer:
Verified
Correct Answer:
Verified
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