With Regard to Bankruptcy and Debt Collection, Which of the Following

question 82

Multiple Choice

With regard to bankruptcy and debt collection, which of the following is false?

• A) The Bankruptcy and Insolvency Act provides for a procedure for an insolvent debtor to make a proposal to his creditors that may or may not result in bankruptcy for the debtor.
• B) Both fraudulent conveyance and fraudulent preferences acts attempt to prohibit the debtor from delaying, hindering, or defrauding the creditor.
• C) Corporations that go into receivership may not be involved in bankruptcy; the receivership may be based on contract.
• D) The commission of a bankruptcy offence could prevent a bankrupt debtor from being discharged.
• E) Any assets obtained by a discharged bankrupt can still be claimed by former unsecured creditors who placed the former bankrupt into bankruptcy.

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Definitions:

Working Mother

A mother who engages in employment outside the home in addition to her family responsibilities.

Better-Adjusted Children

Children who have adapted well to their environment and situations, often displaying good social and emotional development.

Stay-At-Home Mother

A mother who chooses to stay at home to raise their children rather than pursue employment outside the home.

Later-Born Children

Siblings who are born after the first child in a family, often discussed in studies of birth order effects.