Which of the Following Statements Is FALSE

question 8

Multiple Choice

Which of the following statements is FALSE?

• A)a person who declares bankruptcy and then earns income before they are discharged may have the time period for discharge extended to 21 months
• B)if you declared bankruptcy and have not yet been discharged, extra debts you incur will not be discharged by that bankruptcy if you failed to warn the creditor of your bankrupt status
• C)a corporation that declares bankruptcy is not discharged from its debts unless the debts are fully paid off
• D)a person may be able to keep some money in an RRSP or RRIF even if they declare bankruptcy
• E)an income tax debt of $175,000 cannot be discharged in a personal bankruptcy

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Definitions:

Productivity Per Acre

The measure of output (such as crops) produced per acre of land.

Farmland

Land used for farming purposes to grow crops and rear animals, constituting a primary resource for agricultural activities and food production.

Water Shortages

Situations where the available supply of water is not sufficient to meet the demands of the population.

Tradeable Property Rights

Legal rights that allow owners to sell, lease, or otherwise transfer their property or its use to others.