Which of the Following Statements Is True About Chapter 7

question 64

Multiple Choice

Which of the following statements is true about chapter 7 bankruptcy?

• A)All debtors qualify for chapter 7 under the BAPCPA.
• B)The court cannot liquidate the non-exempt assets of a debtor who files for chapter 7 bankruptcy.
• C)The liquidation that occurs in a chapter 7 bankruptcy is used to re-commence the business after the bankruptcy is over.
• D)Only individuals,rather than partnerships,may receive a discharge under chapter 7 bankruptcy.
• E)Corporations that satisfy the means test established by the BAPCPA may file for chapter 7 bankruptcy.

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