Which of the Following Is a Duty Vested in a Trustee

question 16

Multiple Choice

Which of the following is a duty vested in a trustee by the court,when the debtor is a business and files a Chapter 7 petition?

• A)He may be authorized to operate the business for a limited period of time.
• B)He may be authorized to make payments made by the debtor within 90 days before the filing of the petition.
• C)He may be authorized to sell the debtor's properties and hand over the proceeds of the sales to the debtor.
• D)He may be authorized to pay off the debts according to the personal priority list.

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Definitions:

Market-Oriented Economy

An economic system where supply and demand determine the production of goods and services, with minimal government intervention.

Soviet Union

A former federal socialist state in Eastern Europe and Asia, existing from 1922 until its dissolution in 1991, known for its centralized economy and government.

Public Good

A good that is non-excludable and non-rivalrous, meaning it can be consumed by many people simultaneously without reducing its availability to others.

Tennessee Valley Authority

A federal agency established in 1933 to reduce flood risk, produce electrical power, and improve economic conditions in the Tennessee Valley region.