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Which of the following is true regarding bankruptcy? O Chapter 13 bankruptcy is available for any business type (sole proprietorship, partnership or corporation) Chapter 13
Which of the following is true regarding bankruptcy? O Chapter 13 bankruptcy is available for any business type (sole proprietorship, partnership or corporation) Chapter 13 bankruptcy allows for an individual to create a schedule to repay a portion of their obligations with the rest forgiven if terms are met. Chapter 13 bankruptcy provides a company a method to liquidate their assets outside of absolute priority rules. Having a partner declare bankruptcy has no impact on the risk of the remaining partners
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