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Which of the Following Is False Regarding Chapter 12 of the Bankruptcy

Question 3

Multiple Choice

Which of the following is false regarding Chapter 12 of the bankruptcy code?


A) A family farmer under Chapter 12 must have regular annual income.
B) The family farmer's gross income must be at least 50 percent farm-dependent.
C) At least 50 percent of the family farmer's debt must be farm-related.
D) The debt must be under a certain debt cap.
E) Congress modeled Chapter 12 after Chapter 7 relief.

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