___________ Is an Activity That Reduces the Chance That a Loss

question 25

Multiple Choice

___________ is an activity that reduces the chance that a loss will occur. ​

• A)loss control
• B)risk transfer
• C)loss prevention
• D)risk avoidance

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Definitions:

Bankruptcy Trustee

An appointed individual who oversees and manages the estate of a debtor during the bankruptcy process, with the power to sell assets and distribute the proceeds to creditors.

Chapter 7 Trustee

An appointed individual in a Chapter 7 bankruptcy case responsible for managing the debtor's estate, including liquidating non-exempt assets to pay creditors.

Exempt Property

Property that cannot be seized by creditors under bankruptcy laws or in judgment enforcement actions to satisfy debts.

Discharge

In legal terms, it refers to the release from obligation, such as debts, responsibilities, or duties.