Which of the Following Statements About a Chapter 7 Trustee

question 58

Multiple Choice

Which of the following statements about a Chapter 7 trustee is false?

• A)The trustee takes possession of the debtor's property and has it appraised.
• B)The trustee may operate the debtor's business.
• C)The trustee sells the bankrupt's exempt property as soon as possible,consistent with the best interest of the creditors.
• D)The trustee is required to keep an accurate account of all the property and money he receives and to promptly deposit moneys into the estate's accounts.

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Definitions:

Hindsight Bias

The tendency to falsely believe, through revision of older memories to include newer information, that one could have correctly predicted the outcome of an event.

Childhood Reminisce

The act or process of recalling and sharing memories from one's childhood.

Flashbulb Memories

Type of automatic encoding that occurs because an unexpected event has strong emotional associations for the person remembering it.

Events

Broad term that encompasses occurrences or happenings that are significant to the individual or group observing them.