Bankruptcy

Bankruptcy

12th Grade

15 Qs

quiz-placeholder

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Bankruptcy

Bankruptcy

Assessment

Quiz

Social Studies

12th Grade

Practice Problem

Hard

Created by

John Robinson

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15 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

1 min • 5 pts

What were 3 main short-term causes of the French Revolution

Bankruptcy, Great Fear and Estates-General

Bankruptcy, Franco-Prussian War, Great Fear

Louisiana Purchase, Estates-General, Franco-Prussian War.

Great Fear, Peninsular War, Bankruptcy.

2.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

a legal proceeding for distributing to creditors the assets of those unable to pay their debts

bankruptcy

direct tax

eminent domain

indirect tax

3.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

For what purpose does the Constitution give Congress the power to regulate bankruptcy?

to finance projects that current revenues cannot cover

to coin money and regulate its value

to act on matters affecting the nation's security

to establish uniform procedures for dealing with insolvent debtors

4.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Which chapter of bankruptcy is for people with little-to-no income and requires them to sell (liquidate) their assets to pay creditors with?

Chapter 7

Chapter 11

Chapter 13

5.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Which chapter of bankruptcy is for people who have enough income to pay their creditors through a payment plan?

Chapter 7

Chapter 11

Chapter 13

6.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

A legal proceeding carried out to allow individuals or businesses freedom from their debts, while simultaneously providing creditors an opportunity for repayment

Foreclosure

Bankruptcy

Credit Report

Default

7.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

What is the primary purpose of bankruptcy laws in a society?

To punish those who cannot pay their debts

To provide a fresh start for debtors and fair distribution to creditors

To increase government revenue through fines

To encourage people to take more loans

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