1. Chapter 7 of the Bankruptcy Code deals with the ________ form of bankruptcy.

QUESTION 23

1. Chapter7 has a broader discharge than Chapter 13.
2. True
3. False

QUESTION 24

1. Debt relief, such as through a bankruptcy system,can do which of the following:
2. facilitate economic growth.
3. spur entrepreneurial investment.
4. encourage individuals to engage in gainful employment.
5. mitigate the "race to the courthouse" effect outside of bankruptcy proceedings.
6. All of the above.
7. None of the above.

QUESTION 25

1. ________ is a rehabilitation form of bankruptcy that permits a bankruptcy court to supervise the consumerdebtor's plan for the payment of unpaid debts in installments over the plan period.
2. Chapter 15
3. Chapter 7
4. Chapter 13
5. Chapter 9
6. Chapter 12

QUESTION 26

1. Which of the following statements is true?
2. The creditors' bargain view believes that wealth maximizationof a debtor company is one of several primary goals of bankruptcy.
3. Those in the progressive school view the normative goal of bankruptcyas focusing on maximization of return for creditors.
4. Most bankruptcy scholars agree that bankruptcy has no role is enhancing a debtor's pool of assets.
5. None of the above are truebecause all of the statementsare false.
6. All of the above are incorrect choices because all the statements are true.

QUESTION 27

1. Bankruptcy courts are part of the state court system.
2. True
3. False

QUESTION 28

1. All scholars and policymakers agree that Chapter 11is a debt-collection device and nothing more.
2. True
3. False

QUESTION 29

1. Chapter 11's traditional policy goal is to rescue the business.
2. True
3. False

QUESTION 30

1. Most consumer bankruptcies are filed under
2. Chapter 11
3. Chapter 7
4. Chapter 13
5. Chapter 9

QUESTION 31

1. Chapter 15 of the Bankruptcy Code addresses the adjustment of debts of a business.
2. True
3. False

QUESTION 32

1. Chapter 13 of the Bankruptcy Code permits a entities(non-individuals)topropose a plan to pay all or a portion of the debts in installments over a specified period of time.
2. True
3. False

QUESTION 33

1. Bobby is in financial distress, but still has a substantial assets and in the near term he will receive a large bonus that can help him work through his current financial problems.His attorney has advised him that under the law he can legally file for bankruptcy protection and have his debts forgiven, but he needs to do it soon before he gets his bonus.You are Bobby's life coach and you believe he should file for bankruptcy.Which ethical theory will be thebestto use toadvance the case for Bobby to file for bankruptcy?
2. Egoism
3. Deontology
4. Virtue ethics
5. Nonconsequentialisttheory

QUESTION 34

1. Under the Small Business Reorganization Act of 2019the plan of reorganization will no longercontrol a company's financial future.
2. True
3. False

QUESTION 35

1. Theconsequentialistapproachto the bankruptcy filing decision will focus on whether filing is right or wrong in itself.
2. True
3. False