Multiple Choice
Which of the following statements is FALSE?
A) a person who declares bankruptcy and then earns income before they are discharged may have the time period for discharge extended to 21 months
B) if you declared bankruptcy and have not yet been discharged, extra debts you incur will not be discharged by that bankruptcy if you failed to warn the creditor of your bankrupt status
C) a corporation that declares bankruptcy is not discharged from its debts unless the debts are fully paid off
D) a person may be able to keep some money in an RRSP or RRIF even if they declare bankruptcy
E) an income tax debt of $175,000 cannot be discharged in a personal bankruptcy
Correct Answer:

Verified
Correct Answer:
Verified
Q3: Karl was diagnosed with cancer and had
Q4: Kastner Lumber Ltd. supplies lumber to Solti
Q5: In the distribution of a bankrupt's assets,
Q6: Persons who cannot meet their debts as
Q7: It is easier for an individual to
Q9: A receiving order is an order made
Q10: If a person declares personal bankruptcy for
Q11: A Division 1 Proposal can be used
Q12: Marissa declared personal bankruptcy in Ontario on
Q13: Jake declared personal bankruptcy in Ontario in