Examlex
Which of the following is true about shaping?
Exempt Properties
Items or assets that are protected by law from being seized by creditors or during bankruptcy proceedings.
Federal Exemptions
Specific assets or income types that are protected or exempt from seizure under federal law during bankruptcy.
Insolvency
Refers to the financial condition where an entity can not meet its debt obligations as they come due.
Consecutive Years
Years that follow one after another without interruption.
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