Which One of the Following Statements About Bankruptcy Is True

Which one of the following statements about bankruptcy is true?

A) A debtor who has been discharged from bankruptcy is released from his previous financial obligations.
B) Bankruptcy law is different in every province of Canada.
C) All creditors of a bankrupt debtor are treated equally and will receive shares of the assets directly in proportion to how much is owed to each of them.
D) Bankruptcy law forces a debtor to pay all his debts, regardless of his financial position.
E) Bankruptcy refers to a situation in which a debtor who cannot pay debts transfers his assets to the creditors directly.