Quiz 32: Bankruptcy and Reorganization

Business

False Explanation: The Bankruptcy Abuse Prevention and Consumer Protection Act (BAPCPA) of 2005 includes the most comprehensive changes to bankruptcy law in over 25 years.

True Explanation: Before a debtor files for one specific type of relief, the clerk of courts must give the debtor written notice of the other types of relief available.

True Explanation: Under Chapter 7, liquidation may be voluntary or involuntary.

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