________ Is a Form of Bankruptcy That Permits Bankruptcy Courts

question 93

Multiple Choice

________ is a form of bankruptcy that permits bankruptcy courts to supervise the debtor's plan for the payment of unpaid debts in installments over the plan period.

• A) Chapter 7
• B) Chapter 13
• C) Chapter 11
• D) Chapter 12

---

Definitions:

MAGI

MAGI stands for Modified Adjusted Gross Income, a measure used in the U.S. tax code to determine eligibility for certain tax benefits by modifying the adjusted gross income with specific additions or deductions.

Net Investment Income

The income received from investment assets (like stocks, bonds, mutual funds) after deducting related expenses.

Surtax

An additional tax levied on top of the base tax liability; often applied to income exceeding a certain threshold.

Tax Rates

The percentage at which an individual or corporation is taxed, varying based on income level.