________ of the bankruptcy act deals with the liquidation of a company; ________ covers reorganization.

Question

Quizplus · Accepted Answer

Chapter 7 of the bankruptcy act deals with the liquidation of a company, while Chapter 11 covers reorganization. Chapter 12 is specifically for farmers, and there is no Chapter 17 listed in the bankruptcy act. Therefore, the correct answer is C: Chapter 7 for liquidation and Chapter 11 for reorganization.

________ of the Bankruptcy Act Deals with the Liquidation of a Company;