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Distinguish between a government's internal and external debt.
Bankruptcy Petition
A legal document filed by an individual or corporate entity declaring the inability to repay outstanding debts.
Nonprofit
Organizations that operate for collective, public, or social benefit, without the goal of making profits for owners or investors.
Bankruptcy Estate
The assets and properties of an individual or entity undergoing bankruptcy, encompassing both tangible and intangible possessions.
Voluntary Chapter 7
A legal process initiated by an individual or business to declare bankruptcy, allowing for the liquidation of assets to pay off debts.
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