Confirmation of an Extended Time Payment Plan Releases a Debtor

question 37

True/False

Confirmation of an extended time payment plan releases a debtor from liability for all debts that would be discharged by an ordinary bankruptcy discharge.

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Definitions:

Schedule of Cost

A detailed report summarizing the types and amounts of costs incurred by a company.

Goods Manufactured

Items that have been completed through the manufacturing process and are ready for sale.

Cost

The value of money that has been used up to produce something or deliver a service, and hence is not available for use anymore.

Month

A unit of time, typically a portion of a year, based on the orbit of the moon around Earth, commonly comprising 28 to 31 days.