Based on the Above Data, What Is the Amount of Working

question 102

Multiple Choice

Based on the above data, what is the amount of working capital?

• A) $238,000
• B) $128,000
• C) $168,000
• D) $203,000

---

Definitions:

Reaffirmation Agreement

An agreement in which the debtor agrees to pay a debt even though it could have been discharged in bankruptcy.

Discharged Debt

Debt that has been formally released or forgiven, relieving the debtor of any further responsibility to repay it.

Trustee

An individual or company responsible for managing and overseeing assets or property on behalf of another party.

Chapter 7 Bankruptcy

A provision of the bankruptcy code that allows individuals and businesses to discharge or eliminate most of their debts through the liquidation of assets.