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Newer, more strategically oriented purchasing departments have a mission. Which of the following most accurately describes that mission?
Federal Bankruptcy
Federal Bankruptcy involves legal procedures governed by federal law to help individuals or businesses unable to meet their debt obligations to reorganize or discharge their debts.
Bankruptcy Code
The set of laws that govern bankruptcy proceedings in the United States, found in Title 11 of the United States Code.
2005 Bankruptcy Reform Act
Legislation officially known as the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005, designed to overhaul U.S. bankruptcy law by adding means testing to discourage Chapter 7 filings and to reduce bankruptcy fraud.
Federal District
A division within a country, distinct from the states or provinces, that usually encompasses the nation's capital city and has different governing laws.
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