________ is a form of bankruptcy in which the debtor's nonexempt property is sold for cash,the cash is distributed to the creditors,and any unpaid debts are discharged.

Question

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Liquidation is a form of bankruptcy in which the debtor's nonexempt assets, such as property or possessions, are sold or liquidated to raise cash. The cash raised is then distributed among the creditors to pay off as much of the outstanding debts as possible, with any remaining debts being discharged. This type of bankruptcy is commonly referred to as Chapter 7 bankruptcy in the United States.

________ Is a Form of Bankruptcy in Which the Debtor's