Which of the Following Is True of the Median Income

question 76

Multiple Choice

Which of the following is true of the median income test?

• A)If a family has median family income equal to the state's median family income, the debtor does not qualify for Chapter 7 bankruptcy.
• B)If a family has median family income below the state's median family income, the debtor is subject to the "means" test.
• C)If a family has median family income below to the state's median family income, the debtor automatically qualifies for Chapter 7 bankruptcy.
• D)A debtor's debts are not discharged if the family median income is more than the state's median family income.

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Definitions:

Upper Classes

Social groups occupying the top positions in a hierarchy, often associated with wealth, heritage, or nobility.

British Soldiers

Members of the United Kingdom's military forces, particularly those who served in the British Army, known for their roles in various global conflicts and peacekeeping missions throughout history.

Revolutionary War

A war fought from 1775 to 1783 in which the American colonies gained independence from British rule, marking the birth of the United States.

European Powers

Refers to the major sovereign states in Europe that have been influential in global affairs, including in the colonization, exploration, and political and economic spheres.