A Means Test Is Used to Determine Whether ________

question 11

Multiple Choice

A means test is used to determine whether ________.

• A) the debtor's median family income is less than the state's median family income
• B) the debtor's median family income is more than the state's median family income
• C) the debtor has the capability to pay prepetition debts out of postpetition income
• D) the debtor would qualify to file for bankruptcy under Chapter 13

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Definitions:

Outright Ownership

A legal term indicating that a property or asset is owned completely without any encumbrances or conditions.

Economy

An organized system for the production, distribution, and consumption of goods and services within a specific geographical region or country.

Entry-Level Positions

Job roles designed for individuals with no or limited experience in a field, often providing the first step in a professional career.

Corporate Downsizing

The process by which companies reduce their workforce to cut costs, improve efficiency, or restructure operations.