Zeke Files a Petition for Bankruptcy UnderChapter 13

question 33

Multiple Choice

Zeke files a petition for bankruptcy underChapter 13. Zeke'sChapter 13 plan must provide for​

• A) ​the turnover of his future income to the trustee.
• B) ​his attendance at a credit-counseling briefing.
• C) ​adequate means for the petition's execution.
• D) ​a preference for one creditor over another.

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Definitions:

Due Dates

Specific dates by which obligations, such as bill payments or assignments, must be fulfilled or submitted.

Trade Credit

It is a type of commercial financing in which a buyer is allowed to purchase goods or services and pay the supplier at a later scheduled date.

Fundamental Benefit

A primary or essential advantage that is intrinsic to a product, service, or activity.

ACP

Average Collection Period (ACP) is a financial metric that measures the average number of days it takes for a company to collect payments from its customers after a sale has been made.