Which of the Following Is True of Chapter 7 of the United

question 45

Multiple Choice

Which of the following is true of Chapter 7 of the United States Bankruptcy Code?

• A) The 2005 Act gives debtors better means to obtain a Chapter 7 bankruptcy.
• B) Under Chapter 7, a debtor is denied the right to a trustee.
• C) It features a dollar-based means test and a median income test based on a debtor's state of residence.
• D) The 2005 Act in effect pushed many debtors out of Chapter 7 and into Chapter 15 debt- adjustment bankruptcy.

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Definitions:

Octyl Acetate

An organic compound that is formed from the esterification of octanol with acetic acid, used as a flavor and odor agent.

Orange Odor

A characteristic smell associated with orange or citrus fruits, often due to the presence of compounds like limonene.

Acid Chloride

A class of organic compounds derived from carboxylic acids by replacing the hydroxyl group with a chlorine atom, used in organic synthesis.

Fischer Esterification

A chemical reaction that forms an ester upon the treating of an alcohol with a carboxylic acid in the presence of acid catalyst.