[Exemptions] Liane Is Injured in an Automobile Accident and Cannot

question 26

Multiple Choice

[Exemptions] Liane is injured in an automobile accident and cannot work. She cannot pay her bills and files for bankruptcy relief under Chapter 7. Federal exemptions apply, and Liane lists as exempt $25,000 in equity in her residence; interest in a vehicle of $2,000; interest in jewelry of $400; and retirement funds in her individual retirement account. Her creditors filed an objection to all claimed exemptions except for the home equity claim.
-What is the status of the exemptions Liane claimed on the car and jewelry?

• A) Both exemptions will likely be granted because their type and value are within allowable federal exemptions.
• B) The exemption claimed for the jewelry will likely be granted; but in order to ascertain the status of the vehicle, further information is needed in regard to whether it is used in business.
• C) The exemption claimed for the vehicle will likely be granted, but the exemption claimed for the jewelry will likely be disallowed because no exemption may be claimed for jewelry.
• D) The exemption claimed for the vehicle will likely be granted, but the exemption claimed for the jewelry will likely be disallowed because a federal exemption may only be claimed for jewelry consisting of a wedding band worth less than $400.
• E) The exemption claimed or the jewelry will likely be allowed, but the exemption claimed for the vehicle will likely be denied because the federal exemption for a vehicle is limited to $1,000.

Understand the role of proofreading in the revision process to ensure accuracy and consistency in messages.

Understand how poor design decisions can hinder effective communication.

Recognize the importance of consistency in design and layout for repeated communication with the same audience.

Identify principles of effective document design in business communication.

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Definitions:

Managerial Activities

Tasks and responsibilities undertaken by managers to plan, organize, lead, and control the operations of an organization.

Networking

The practice of building, maintaining, and utilizing relationships, especially for professional or business purposes.

Absenteeism Rate

The frequency or rate at which employees are absent from work, typically expressed as a percentage of total working days.

Contingent

Dependent on or conditioned by something else; in organizational behavior, often refers to rewards or responses that are based on specific performance criteria.