Creditors Hold Judgments on Overdue Debts Against AAA Auto Repair

question 58

Multiple Choice

Creditors hold judgments on overdue debts against AAA Auto Repair when the debtor receives a discharge in bankruptcy. AAA's discharge will

• A)extend the time for payment of the overdue debts.
• B)have no effect on the creditors' judgments.
• C)require creditors to re-file their collection actions.
• D)void any creditor's judgment on a discharged debt.

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Definitions:

Ethical Requirements

Standards and guidelines for moral conduct that individuals and organizations are expected to follow.

Social Responsibility

Social Responsibility is the obligation of businesses to make decisions and take actions that are beneficial for the welfare and interests of society as well as the organization.

Leadership Team

A group of individuals at the top of an organization who are responsible for making strategic decisions and guiding the company towards its goals.

Socially Responsible

Refers to practices and policies that a business adopts to benefit society and the environment, beyond what is legally required.