Which of the Following Was NOT a Reason Cited for Passing

question 40

Multiple Choice

Which of the following was NOT a reason cited for passing the comprehensive changes to bankruptcy law included in the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005.

• A) The increased numbers of bankruptcy filings
• B) Significant losses associated with bankruptcy filings
• C) Making it simper and easier for consumers to file for bankruptcy
• D) Loopholes and incentives that allowed and sometimes encouraged opportunistic personal filings and abuse
• E) The fact that some bankruptcy debtors were able to repay a significant portion of their debt

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Definitions:

Research Costs

Expenses associated with conducting research activities, often including but not limited to, development, testing, and innovation costs.

Depreciation

A method of allocating the cost of a tangible asset over its useful life.

Comparative Income Statement

A financial statement that compares income, expenses, and net income over different periods, helping to identify trends and assess performance.