If a Voluntary Petition in Bankruptcy Is Found to Be

question 71

Multiple Choice

If a voluntary petition in bankruptcy is found to be proper, the court's entry of an order for relief

• A) stops the debtor's payment of debts in the petition.
• B) discharges the debtor's obligations for any debt over $10,000.
• C) dismisses the petition .
• D) distributes the debtor's assets to his or her creditors.

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Definitions:

Dismissal

The act of terminating an employee's contract or employment, often due to underperformance or disciplinary issues.

Unionized Organization

A workplace where a labor union represents the interests of the employees in negotiations with management.

Reinstatement

The act of restoring someone or something to a previous position or status, often used in employment contexts when a job is returned to a previously terminated employee.

Arbitrator

A neutral third party chosen to resolve disputes between parties in an arbitration proceeding.