Which of the Following Is False Regarding Chapter 13 of the Bankruptcy

question 24

Multiple Choice

Which of the following is false regarding Chapter 13 of the bankruptcy code?

• A)Any debtor who files under Chapter 13 could also have filed under Chapter 11.
• B)By statute Chapter 13 plans last between 36 and 60 months.
• C)Chapter 13 repayment plans are usually simpler and less expensive than Chapter 11 plans.
• D)Individuals,partnerships,and corporations may file for a Chapter 13 repayment plan.
• E)Chapter 13 permits individuals with regular income to pay their debts to creditors in installment plans under the supervision of the court.

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Definitions:

Short-run Supply Curve

A graphical representation showing the relationship between the price of a good and the quantity of that good that producers are willing to supply in the short run.

Elasticity

A measure of how responsive the demand or supply of a product or service is to changes in price or other factors.

Long-run Market Supply

Describes the total quantity of a good or service that producers are willing and able to supply at various prices in the long term, considering all factors of production are variable.

Resource Prices

The costs associated with acquiring the inputs needed for production, including raw materials, labor, and capital.