Which of the Following Term Describes the Process in Bankruptcy

question 54

Multiple Choice

Which of the following term describes the process in bankruptcy designed to allow businesses that are in temporary financial distress but are worth saving to continue operating while the claims of creditors are settled using a collective procedure?

• A) insolvency
• B) workout
• C) voluntary settlement
• D) reorganization
• E) extension

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Definitions:

Federal Reserve Board

Governs the Federal Reserve System, the central banking system of the United States, and oversees the nation's money supply and banking industry.

Money Laundering

The illegal process of making large amounts of money generated by a criminal activity, such as drug trafficking or terrorist funding, appear to be earned legally.