Which of the Following Is NOT One of the Aims

question 82

Multiple Choice

Which of the following is NOT one of the aims of the Bankruptcy and Insolvency Act?

• A)To save an ongoing business where possible
• B)To ensure a fair distribution of the bankrupts assets among creditors
• C)To make it easier to recover illegal gambling debts
• D)To release an honest debtor from debts where the burden is too great
• E)All of the above are aims of the Act

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Definitions:

Monthly Payment

A regularly scheduled payment, typically made each month, towards a debt or other financial obligation.

Annuities

Financial products that pay out a fixed stream of payments to an individual, typically used as an income stream for retirees.

Present Values

The current value of a future sum of money or stream of cash flows given a specified rate of return.

Annuities

Financial products that provide a series of payments at regular intervals, often used as an income stream for retirees.