John Wants to Complete His M

question 107

Multiple Choice

John wants to complete his M.B.A.in three years.This is a(n) ________ goal.

• A) long-term
• B) intermediate
• C) short-term
• D) strategic

---

Definitions:

Involuntary Petition

A legal process initiated by creditors requesting the bankruptcy court to declare a debtor as bankrupt.

Creditors

Individuals or entities to whom money is owed by another individual or entity.

Chapter 7

A bankruptcy process providing for the liquidation of a debtor's non-exempt assets to pay off creditors.

Automatic Stay

A legal provision that halts lawsuits, foreclosures, garnishments, and all collection activity against the debtor the moment a bankruptcy petition is filed.