What is the most important difference when a business uses Chapter 11 rather than Chapter 7 in a bankruptcy?
A) In Chapter 11,petitions must be voluntary,whereas Chapter 7 petitions can be either voluntary or involuntary.
B) In Chapter 11,the business survives,whereas in Chapter 7 the business does not survive.
C) In Chapter 11,all creditors are assured of receiving some payment,whereas in Chapter 7 some creditors may receive nothing.
D) In Chapter 11,there is never a trustee,whereas in Chapter 7 there is always a trustee.
Correct Answer:
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