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Which of the following statements a) , b) or c) is false?
Chapter 7
A provision of the U.S. Bankruptcy Code that provides for the liquidation of a debtor's assets to pay off creditors.
Chapter 11
A chapter of the United States Bankruptcy Code that permits reorganization under the bankruptcy laws of the United States.
Chapter 13
A section of the U.S. bankruptcy code allowing individuals earning a regular income to develop a plan to repay all or part of their debts.
Liquidation Cases
Legal processes where a company's assets are distributed to claimants, typically occurring when a company becomes insolvent.
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