A(n)______ Is a Proceeding Under Chapter 7 in Which a Debtor

question 105

Multiple Choice

A(n) ______ is a proceeding under Chapter 7 in which a debtor states his or her debts and turns all assets over to a trustee, who sells the nonexempt assets and distributes the proceeds to creditors.

• A) bankruptcy
• B) reorganization
• C) liquidation
• D) adjustment

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