Examlex
Match each of the following characteristics with the financial statement that best describes it. Each may be used more than once.
-The first statement prepared
Creditor
A person or entity to whom money is owed by another person or entity, known as the debtor.
Bankruptcy Code
The collection of laws and procedures that govern the process of addressing the debts of individuals and entities unable to pay them.
Exempts
means to free someone or something from an obligation, duty, or liability to which others are subject; granting immunity from a general requirement.
Individual Debtor
A person who owes money to creditors; in legal contexts, often pertaining to bankruptcy procedures.
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