Which of the Following Debts Is Dischargeable in a Chapter

question 23

Multiple Choice

Which of the following debts is dischargeable in a Chapter 7 liquidation?

• A) Claims against property or funds obtained by the debtor under false pretenses or by false representations
• B) Claims for back taxes accruing within two years prior to bankruptcy
• C) Claims of general creditors for nonluxury personal and household goods
• D) Claims by creditors who were not notified of the bankruptcy

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Definitions:

IRR

Stands for Internal Rate of Return, a metric used in financial analysis to estimate the profitability of potential investments.

Equal

In the context of finance, it typically means having the same value or balance, as in equal shares of stock meaning each share has the same value.

Internal Rate of Return

A financial metric used to estimate the profitability of potential investments.

Mutually Exclusive Projects

Investment opportunities in which the acceptance of one project requires the rejection of another due to limited resources or conflicting outcomes.