The ________ Is a Bankruptcy Rule That Applies to a Debtor

question 56

Multiple Choice

The ________ is a bankruptcy rule that applies to a debtor who has a median family income that exceeds the state's median family income for families the same size as the debtor's family.

• A) means test
• B) median income test
• C) Chapter 13 discharge
• D) Chapter 13 plan of payment

---

Definitions:

Interest Expense

The cost incurred by an entity for borrowed funds over a period, included on the income statement.

Semi-Annually

Occurring twice a year or every six months, typically used in relation to payments, reports, or interest accruals.

Instalment Payments

Payments made regularly over a period of time to settle a debt.

Periodic Amounts

Regularly scheduled payments or receipts over a defined period.