
Lesson 19-2 Review
Flashcard
•
Business
•
11th Grade
•
Practice Problem
•
Hard
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34 questions
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1.
FLASHCARD QUESTION
Front
Under _____, debtors may keep their property but must submit a payment plan to the court for repaying a substantial portion of their debts.
Back
reorganization
Answer explanation
Read page 428
2.
FLASHCARD QUESTION
Front
_____ is a legal process that relieves debtors of the responsibility of paying their debts or protects them while they try to repay.
Back
Bankruptcy
Answer explanation
Read page 427
3.
FLASHCARD QUESTION
Front
_____ debts are debts erased by the court during bankruptcy proceedings.
Back
Discharged
Answer explanation
Read page 428
4.
FLASHCARD QUESTION
Front
Commonly called _____ bankruptcy, Chapter 7 bankruptcy is a liquidation form of bankruptcy for individuals.
Back
straight
Answer explanation
Read page 428
5.
FLASHCARD QUESTION
Front
The agreement to pay debts that have been legally discharged is called _____
Back
reaffirmation
Answer explanation
Read page 429
6.
FLASHCARD QUESTION
Front
Assets considered necessary for survival are called _____ property.
Back
exempted
Answer explanation
Read page 431
7.
FLASHCARD QUESTION
Front
_____ is an agreement to repay discharged debts.
Back
Reaffirmation
Answer explanation
Read page 429
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