A_________ Is a Document Filed with a Bankruptcy Court by a Creditor

question 99

Multiple Choice

A_________ is a document filed with a bankruptcy court by a creditor to inform the court of a claim against a debtor's property. It lists the creditor's name and address, as well as the amount that the creditor asserts is owed to the creditor by the debtor.

• A) creditor's claim
• B) proof of claim
• C) creditor's petition
• D) proof of collateral

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Definitions:

Own and Sell

The legal rights and ability to possess and then transfer the ownership of goods or assets.

Purchasers of Resources

Individuals or entities that buy or acquire resources for the purpose of production of goods and services.

Marginal Analysis

An examination of the additional benefits of an activity compared to the additional costs incurred by that same activity, emphasizing decisions at the margin.

Scarce

A term describing the limited availability of resources relative to the wants and needs for them, leading to the necessity of making economic choices.