Bankruptcy Quiz
Quiz
•
Business
•
9th Grade
•
Practice Problem
•
Medium
Albert Gosha
Used 8+ times
FREE Resource
Enhance your content in a minute
10 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is bankruptcy?
Bankruptcy is a legal process where an individual or business declares that they are unable to pay their debts and seeks relief from their creditors.
Bankruptcy is a process where an individual or business is punished for not paying their debts.
Bankruptcy is a process where an individual or business is exempted from paying their debts.
Bankruptcy is a process where an individual or business is rewarded for paying off their debts.
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Name two types of bankruptcy.
Chapter 7 bankruptcy, Chapter 13 bankruptcy
Chapter 9 bankruptcy
Chapter 11 bankruptcy
Chapter 15 bankruptcy
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the bankruptcy process?
The bankruptcy process is a voluntary process that anyone can go through.
The bankruptcy process is a way to avoid paying debts.
The bankruptcy process is the legal procedure for individuals or businesses unable to repay their debts.
The bankruptcy process is a financial strategy to increase wealth.
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is Chapter 7 bankruptcy?
Chapter 7 bankruptcy is a legal process that allows individuals or businesses to transfer their debts to another person or entity.
Chapter 7 bankruptcy is a legal process that allows individuals or businesses to negotiate with creditors to reduce their debts.
Chapter 7 bankruptcy is a legal process that allows individuals or businesses to consolidate all their debts into one payment.
Chapter 7 bankruptcy is a legal process that allows individuals or businesses to eliminate most of their debts and start fresh.
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is Chapter 13 bankruptcy?
Chapter 13 bankruptcy is a type of bankruptcy that erases all debts completely.
Chapter 13 bankruptcy is a type of bankruptcy that only applies to businesses, not individuals.
Chapter 13 bankruptcy is a type of bankruptcy that requires individuals to sell all their assets to repay their debts.
Chapter 13 bankruptcy is a type of bankruptcy that allows individuals with regular income to create a plan to repay all or part of their debts over a period of three to five years.
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What are the effects of bankruptcy?
The effects of bankruptcy include the discharge of certain debts, the liquidation of assets to pay off creditors, damage to credit score, and limitations on obtaining credit in the future.
Bankruptcy allows for unlimited access to credit in the future
Bankruptcy has no effect on debts or credit score
Bankruptcy results in immediate forgiveness of all debts
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which type of bankruptcy involves liquidation of assets?
Chapter 7
Chapter 9
Chapter 11
Chapter 13
Create a free account and access millions of resources
Create resources
Host any resource
Get auto-graded reports

Continue with Google

Continue with Email

Continue with Classlink

Continue with Clever
or continue with

Microsoft
%20(1).png)
Apple
Others
Already have an account?
Similar Resources on Wayground
12 questions
BE_Operations_20221116
Quiz
•
9th - 12th Grade
14 questions
PF 1.0 Test Review
Quiz
•
9th - 12th Grade
10 questions
Game Quiz
Quiz
•
9th Grade
10 questions
Stukent Chapter 3 Quiz Review
Quiz
•
9th - 12th Grade
8 questions
Private vs Public Limited Companies
Quiz
•
9th - 10th Grade
12 questions
Organizational Skills in Business Leadership
Quiz
•
9th - 12th Grade
10 questions
Hard Drive Disks
Quiz
•
9th Grade
10 questions
Understanding Economic Principles Quiz Part 2
Quiz
•
9th Grade
Popular Resources on Wayground
5 questions
This is not a...winter edition (Drawing game)
Quiz
•
1st - 5th Grade
15 questions
4:3 Model Multiplication of Decimals by Whole Numbers
Quiz
•
5th Grade
25 questions
Multiplication Facts
Quiz
•
5th Grade
10 questions
The Best Christmas Pageant Ever Chapters 1 & 2
Quiz
•
4th Grade
12 questions
Unit 4 Review Day
Quiz
•
3rd Grade
10 questions
Identify Iconic Christmas Movie Scenes
Interactive video
•
6th - 10th Grade
20 questions
Christmas Trivia
Quiz
•
6th - 8th Grade
18 questions
Kids Christmas Trivia
Quiz
•
KG - 5th Grade
Discover more resources for Business
16 questions
BizInnovator Startup - Crunching the Numbers
Quiz
•
9th - 12th Grade
20 questions
Mastering Job Interview Skills
Quiz
•
9th Grade
50 questions
Principles Fall Concepts Review
Quiz
•
9th Grade
17 questions
BizInnovator Startup - Know Your Customer
Quiz
•
9th - 12th Grade
13 questions
BizInnovator Startup - Experience and Overview
Quiz
•
9th - 12th Grade
