If an Individual Was a Debtor in a Bankruptcy Case

question 3

True/False

If an individual was a debtor in a bankruptcy case that was dismissed within 180 days of the current case,the individual is generally not eligible to be a debtor under Chapters 7,11,or 13.

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Definitions:

Differential Cost

The difference in cost between two alternative decisions, or a change in cost from one period to the next.

Incremental Cost

The additional cost that a company incurs when producing one more unit of a product.

Incremental Costs

Costs that change as a result of a decision to increase or decrease the level of an activity or operation.

Sunk Costs

Costs that have already been incurred and cannot be recovered or altered by future actions, and therefore should not influence current or future business decisions.