Under Chapter 7, the Primary Effect of a Discharge Is

question 7

Multiple Choice

Under Chapter 7, the primary effect of a discharge is to

• A)extend the time for the debtor's payment of overdue debts.
• B)allow a creditor to collect a previous judgment on a discharged debt.
• C)force a creditor to obtain a new judgment on a discharged debt.
• D)void a judgment on a discharged debt and prohibit an action to collect it.

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Definitions:

Bananas

A tropical fruit with soft, creamy flesh, protected by a yellow or green peel, widely consumed worldwide and rich in nutrients.

Utility Function

A mathematical model representing consumer preferences, used to explain how consumers allocate their spending.

Budget Constraint

Represents the combination of goods and services that a consumer can purchase given their income and the prices of those goods and services.

Income

The monetary payment received for goods or services, or from investments, typically measured per period like annually or monthly.