Chapter 7 bankruptcy is intended for entrepreneurial firms with limited debts and assets.

Name: Chapter 7 bankruptcy is intended for entrepreneurial firms with limited debts and assets.
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Chapter 7 bankruptcy is actually designed for both individuals and businesses, regardless of their level of debt or assets. It is a liquidation bankruptcy that allows individuals and businesses to discharge their debts and liquidate any non-exempt assets to pay off their creditors.

Chapter 7 Bankruptcy Is Intended for Entrepreneurial Firms with Limited