Sadie was expecting a shipment of food from one of her suppliers and it didn't come. When she called the supplier the phone was disconnected. Later Sadie read that the supplier had gone out of business because it couldn't pay its debts. The supplier likely declared Chapter ________ bankruptcy.
A) 7
B) 11
C) 13
D) 17

Question

Quizplus · Accepted Answer

Chapter 7 bankruptcy calls for straight bankruptcy, which requires the sale of nonexempt assets of debtors. The business is liquidated as was the case with Sadie's supplier.

Sadie Was Expecting a Shipment of Food from One of Her