Ch20 - Ch20 Student 1 Chapter 7 of the Bankruptcy Act...

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Ch20 Student: ___________________________________________________________________________ 1. Chapter 7 of the Bankruptcy Act provides for: I. Reorganization. II. Liquidation. A. I. B. II. C. Both I and II. D. Neither I nor II. 2. A transfer of assets by a company in financial difficulty is considered a sale if: I. the transfer includes a recourse provision allowing the buyer to return the asset. II. the buyer cannot pledge or exchange the transferred assets.
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