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True or False Quiz
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1
Debtors prisons were abolished in the United States in 1865.
A)True
B)False
2
Liquidation refers to selling property to pay creditors.
A)True
B)False
3
Charles has the ability to pay his debts due to his savings so creditors may not force him into involuntary bankruptcy.
A)True
B)False
4
In a Chapter 12 bankruptcy the debtor is to file a repayment plan within ninety days after the order for relief.
A)True
B)False
5
Save the Animals, a charity, is not paying its debts and may be forced into involuntary bankruptcy.
A)True.
B)False.
6
The federal homestead exemption is $17,425.
A)True
B)False
7
Alimony and child support are paid right after administrative expenses in a bankruptcy proceeding.
A)True
B)False
8
Henry may file for bankruptcy to discharge a court-ordered judgment resulting from his driving while intoxicated.
A)True
B)False
9
In a Chapter 11 bankruptcy the primary committee consists of the debtor's unsecured creditors.
A)True
B)False
10
Betty and Ann have a partnership and the partnership is not eligible to file under Chapter 13 of the Bankruptcy Code.
A)True
B)False





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