Which of the Following Statements About Chapter 7 Liquidations Is

question 40

Multiple Choice

Which of the following statements about Chapter 7 liquidations is true?

• A)The debtor must disclose all of the property she owns and surrender this bankruptcy estate to the bankruptcy trustee.
• B)The trustee takes all of the debtor's property and administers,liquidates,and distributes it.
• C)Only individuals can file under Chapter 7.
• D)If the bankrupt person follows all court orders,she is usually given a discharge,regardless of whether she was honest in her business transactions or not.

Comprehend the stylistic differences in report writing due to formality and audience familiarity.

Understand the distinctions and applications of direct and indirect order in business writing.

Recognize the appropriate parts and organization of business reports based on their length and formality.

Identify the roles and formats of various prefatory and appended parts in formal and informal reports.