An Extended Time Payment Plan

question 25

Multiple Choice

An extended time payment plan:

• A) does not provide for a discharge of the debtor.
• B) provides for a discharge of the debtor.
• C) does not require creditors holding the same type or class of claim to be treated the same way.
• D) will not allow the debtor to pay the debts in installments if the debtor's creditors had not originally agreed to such installments.

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Definitions:

Financial Losses

Refers to the situation in which a business's expenses exceed its revenues, resulting in a negative profit.