Which One of the Following Statements About Bankruptcy Is False

question 107

Multiple Choice

Which one of the following statements about bankruptcy is false?

• A) Bankruptcy law is identical in every province of Canada.
• B) All creditors of a bankrupt debtor are treated equally and will receive shares of the assets directly in proportion to how much is owed to each of them.
• C) A debtor who has been discharged from bankruptcy is released from his previous financial obligations.
• D) Bankruptcy refers to a situation in which a debtor who cannot pay debts transfers his assets to a trustee who acts on behalf of creditors
• E) Bankruptcy law may allow a debtor to escape from having to pay his debts.

---

Definitions:

Prejudice

The outcome of prejudging a person. Prejudice in communication is the unwillingness to listen to members of groups the listener believes are inferior, such as other ethnic groups or women; it can also take more subtle forms; how you feel as a result of the stereotypes you believe in.

Attitude

An evaluation of people, ideas, issues, situations, or objects.

Socially Accepted

Behaviors or norms that are widely recognized and approved by society or a specific group.

Equal Employment Opportunity Commission

A U.S. federal agency responsible for enforcing federal laws that make it illegal to discriminate against a job applicant or an employee.