Min,a Carpenter,has Recently Declared Bankruptcy

question 5

Multiple Choice

Min,a carpenter,has recently declared bankruptcy.She has one loan for $10 000 and,at the time when the bank calls for repayment,her total assets add up to $9000,which is made up of $3000 in tools,$1200 in clothing,and $800 in furniture.When her assets are distributed,which of the following is true?

• A)The bank is entitled to all $9000.
• B)The bank is probably only entitled to $4000.
• C)The bank is probably only entitled to $5200.
• D)Min cannot declare bankruptcy,as she does not meet the requirements.
• E)Min will be discharged of all debt.

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Definitions:

Individual Identity

The sense of self that each person uniquely develops, shaped by personal choices, experiences, and social interactions.

Family Systems View

A theoretical perspective that understands individuals through the context of their family unit and interactions.

Collective

Refers to a group of entities that share or are motivated by at least one common issue or interest, or work together to achieve a common objective.

Individual Functioning

Individual functioning refers to the capacity and efficiency with which an individual can perform necessary daily activities and fulfill personal and social roles.