Which of the Following Is True of Chapter 12 of the United

question 91

Multiple Choice

Which of the following is true of Chapter 12 of the United States Bankruptcy Code?

• A) Under Chapter 12, family farmers and fishermen have a right to file for bankruptcy reorganization.
• B) A plan for a Chapter 12 reorganization should provide for payments to creditors over no longer than a one-year period.
• C) Chapter 12 grants a personal exemption for all farm or fishing equipment.
• D) A debtor cannot convert a Chapter 12 reorganization to a Chapter 7.

---

Definitions:

Backflows

The return of workers to the countries from which they originally emigrated.

Younger Workers

Refers to individuals in the workforce who are typically in the lower age range of the working population, often considered to be more recent entrants into the job market.

Standard of Living

The degree of prosperity, comfort, material possessions, and essential needs accessible to a specific socioeconomic group or region.

National Income

The total value of all goods and services produced by a country over a specific period, typically a year, representing the economic performance of a nation.