What Happens When an Order of Relief Is Granted

question 70

Multiple Choice

What happens when an order of relief is granted?

• A)The bankruptcy can continue
• B)The debtor gets protection from collection efforts
• C)The creditor gets relief from the automatic stay
• D)The bankruptcy is dismissed
• E)The debtor is relieved of all obligations to repay debts

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Definitions:

Service Revenue

Income earned from the provision of services as opposed to the sale of physical goods.

Cash Received

Money that has been transferred into a company or individual's possession as payment for goods or services.

Cash Deposit

Funds placed in a financial institution for safekeeping, which can include cash or cash equivalents.

Liability Reported

The representation of an entity's obligations or debts on its financial statements, indicating amounts owed to creditors.