Where a Creditor Has Indicated That a Debt Is Unworthy

question 48

Multiple Choice

Where a creditor has indicated that a debt is unworthy of the time it would take to collect,which of the following allows the debtor to seek remedies in order to bring closure to its obligations?

• A) the Bankruptcy and Insolvency Act
• B) the Bankruptcy Act
• C) the Insolvency and Bankruptcy Act
• D) the Insolvency Act

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Definitions:

Realistic

Pertaining to the accurate representation of the real world.

Timebound

Characterized by a specific duration or deadline within which a task or project must be completed.

Management by Objectives

A management strategy focusing on defining specific objectives that employees need to achieve within a set timeframe, followed by feedback on their performance.

Performance Appraisal

A systematic evaluation of an employee's job performance and productivity.