Once a Voluntary Liquidation Proceeding Under Chapter 7 Is Filed

question 55

Multiple Choice

Once a voluntary liquidation proceeding under Chapter 7 is filed, the debtor's prepetition assets form the ________.

• A) Corpus
• B) Remainder
• C) Residual estate
• D) Bankruptcy estate
• E) Relinquished asset pool

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Definitions:

Cluttering Phrases

Unnecessary words or expressions that make sentences longer without adding significant value.

Active Voice

A sentence structure where the subject performs the action stated by the verb, making the writing clear and direct.

Passive Voice

A grammatical voice where the subject is the recipient of the action, often making the sentence less direct.

Shortening Sentences

The practice of making sentences briefer while retaining their original meaning.