Ch21 Bankruptcy Law: In Theory, in History, Full Test Bank

Business Law with UCC Applications, 15e (Sukys)

Chapter 21 Bankruptcy Law: In Theory, in History, and in Practice

1) The question of whether to establish a federal bankruptcy law was the central issue in the case of Hanover National Bank v. Max Moyses in 1902.

Difficulty: 1 Easy

Topic: The Checkered History of Bankruptcy in the United States

Learning Objective: 21-01 Summarize the history of bankruptcy law in the United States.

Bloom's: Remember

AACSB: Reflective Thinking

Accessibility: Keyboard Navigation

2) People who are able to make a down payment and have a steady income may become eligible for a mortgage loan as soon as five years following a discharge in bankruptcy.

Difficulty: 2 Medium

Topic: The Checkered History of Bankruptcy in the United States

Learning Objective: 21-02 Discuss federal and state control of bankruptcy law.

Bloom's: Understand

AACSB: Reflective Thinking

Accessibility: Keyboard Navigation

3) Chapter 7 bankruptcy petitions are filed in special bankruptcy courts within the federal court structure.

Difficulty: 2 Medium

Topic: Liquidation--Chapter 7, Bankruptcy Code

Learning Objective: 21-03 State the criteria necessary to be eligible to file voluntarily for Chapter 7 bankruptcy.; 21-04 Explain the "means test" that is required for filing Chapter 7 bankruptcy.

Bloom's: Understand

AACSB: Reflective Thinking

Accessibility: Keyboard Navigation

4) The first step in the 'means test' is to compare the debtor's average income during the previous six months with the median income for a family of that size in the United States.

Difficulty: 2 Medium

Topic: Liquidation--Chapter 7, Bankruptcy Code

Learning Objective: 21-05 State the criteria necessary for creditors to force debtors into involuntary bankruptcy.

Bloom's: Understand

AACSB: Reflective Thinking

Accessibility: Keyboard Navigation

5) In a voluntary bankruptcy filing, the bankruptcy petition itself becomes the order for relief and is effective the moment it is filed with the court.

Difficulty: 3 Hard

Topic: Liquidation--Chapter 7, Bankruptcy Code

Learning Objective: 21-05 State the criteria necessary for creditors to force debtors into involuntary bankruptcy.

Bloom's: Apply

AACSB: Reflective Thinking

Accessibility: Keyboard Navigation

6) The final step to determine whether a debtor will be able to file a bankruptcy petition for Chapter 7 or not, is a determination as to whether the debtor has the ability to pay unsecured debts over a three-year period.

Difficulty: 3 Hard

Topic: Liquidation--Chapter 7, Bankruptcy Code

Learning Objective: 21-05 State the criteria necessary for creditors to force debtors into involuntary bankruptcy.

Bloom's: Apply

AACSB: Reflective Thinking

Accessibility: Keyboard Navigation

7) The Bankruptcy Code allows debtors to maintain a minimum standard of living by exempting certain necessary items of property, including for example, professional tools, and medical supplies.

Difficulty: 2 Medium

Topic: Liquidation--Chapter 7, Bankruptcy Code

Learning Objective: 21-07 List the federal exemptions debtors can exclude from the bankruptcy process.

Bloom's: Understand

AACSB: Reflective Thinking

Accessibility: Keyboard Navigation

8) When a petition is filed, an automatic stay goes into effect which postpones ALL collection proceedings against the debtor.

Difficulty: 2 Medium

Topic: Liquidation--Chapter 7, Bankruptcy Code

Learning Objective: 21-07 List the federal exemptions debtors can exclude from the bankruptcy process.

Bloom's: Understand

AACSB: Reflective Thinking

Accessibility: Keyboard Navigation

9) Under the new Bankruptcy Code, alimony, child support, and Social Security payments are exempt up to an aggregate of $25,000 per year.

Difficulty: 2 Medium

Topic: Liquidation--Chapter 7, Bankruptcy Code

Learning Objective: 21-07 List the federal exemptions debtors can exclude from the bankruptcy process.

Bloom's: Understand

AACSB: Reflective Thinking

Accessibility: Keyboard Navigation

10) Chapter 11 reorganizations are only available to legal entities such as partnerships and corporations.

Difficulty: 2 Medium

Topic: Liquidation--Chapter 7, Bankruptcy Code

Learning Objective: 21-08 Recognize those debts that have priority payment status under the Bankruptcy Code.

Bloom's: Understand

AACSB: Reflective Thinking

Accessibility: Keyboard Navigation

11) According to the priority list of property distribution in the Bankruptcy Code, administrative expenses incurred during the administration of bankruptcy are paid before secured debts.

Difficulty: 2 Medium

Topic: Liquidation--Chapter 7, Bankruptcy Code

Learning Objective: 21-08 Recognize those debts that have priority payment status under the Bankruptcy Code.

Bloom's: Understand

AACSB: Reflective Thinking

Accessibility: Keyboard Navigation

12) Under Chapter 11, the debtor becomes a debtor in possession and continues to operate performing most of the functions of bankruptcy judge.

Difficulty: 3 Hard

Topic: Liquidation--Chapter 7, Bankruptcy Code

Learning Objective: 21-08 Recognize those debts that have priority payment status under the Bankruptcy Code.

Bloom's: Apply

AACSB: Reflective Thinking

Accessibility: Keyboard Navigation

13) When a Chapter 11 petition is filed, the debtor has 120 days to file a reorganization plan, which must be in conformity with the creditors and accepted by the bankruptcy court.

Difficulty: 2 Medium

Topic: Reorganization--Chapter 11, Bankruptcy Code

Learning Objective: 21-09 Explain Chapter 11 bankruptcy, emphasizing the reorganization process.

Bloom's: Understand

AACSB: Reflective Thinking

Accessibility: Keyboard Navigation

14) To be eligible for Chapter 13, debtors must first meet with an approved nonprofit credit counselor and have unsecured debts of less than $400,000.

Difficulty: 2 Medium

Topic: Reorganization--Chapter 11, Bankruptcy Code

Learning Objective: 21-09 Explain Chapter 11 bankruptcy, emphasizing the reorganization process.

Bloom's: Understand

AACSB: Reflective Thinking

Accessibility: Keyboard Navigation

15) Under a Chapter 13, creditors can force an involuntary bankruptcy filing if the debtor has a steady income.

Difficulty: 2 Medium

Topic: Reorganization--Chapter 11, Bankruptcy Code

Learning Objective: 21-09 Explain Chapter 11 bankruptcy, emphasizing the reorganization process.

Bloom's: Understand

AACSB: Reflective Thinking

Accessibility: Keyboard Navigation

16) A Chapter 13 petition must include a repayment plan, but priority debtors can be paid at a discount, with different rates and times.

Difficulty: 2 Medium

Topic: Reorganization--Chapter 11, Bankruptcy Code

Learning Objective: 21-09 Explain Chapter 11 bankruptcy, emphasizing the reorganization process.

Bloom's: Understand

AACSB: Reflective Thinking

Accessibility: Keyboard Navigation

17) Under the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 (BAPCPA), Congress created a system that would require more debtors to file under Chapter 7 rather than Chapter 13.

Difficulty: 2 Medium

Topic: Reorganization--Chapter 11, Bankruptcy Code

Learning Objective: 21-09 Explain Chapter 11 bankruptcy, emphasizing the reorganization process.

Bloom's: Understand

AACSB: Reflective Thinking

Accessibility: Keyboard Navigation

18) Chapter 12 sets a $4,153,150 debt ceiling for farmers and is available to partnerships and corporations regardless of stock ownership.

Difficulty: 2 Medium

Topic: Family Farmer or Fishing Business Debt Adjustment--Chapter 12, Bankruptcy Code

Learning Objective: 21-10 Discuss the requirements for Chapters 12 and 13 bankruptcy.

Bloom's: Understand

AACSB: Reflective Thinking

Accessibility: Keyboard Navigation

19) Once a Chapter 12 plan is created, the trustee holds a confirmation hearing with creditors who either vote to confirm or deny the plan.

Difficulty: 2 Medium

Topic: Family Farmer or Fishing Business Debt Adjustment--Chapter 12, Bankruptcy Code

Learning Objective: 21-10 Discuss the requirements for Chapters 12 and 13 bankruptcy.

Bloom's: Understand

AACSB: Reflective Thinking

Accessibility: Keyboard Navigation

20) Under Chapter 13, agencies charged with collecting and recovering unpaid child-support payments are allowed to continue such efforts despite the bankruptcy filing.

Difficulty: 2 Medium

Topic: Individual Debt Adjustment--Chapter 13, Bankruptcy Code

Learning Objective: 21-10 Discuss the requirements for Chapters 12 and 13 bankruptcy.

Bloom's: Understand

AACSB: Reflective Thinking

Accessibility: Keyboard Navigation

21) In 1978, Chapters 11 and 13 of the Bankruptcy Code were created, which:

A) made it easier for creditors to obtain bankruptcy relief.

B) allowed businesses and individuals to reorganize and keep going.

C) made it more difficult to declare bankruptcy.

D) allowed creditors to keep all of the debtor's assets.

Difficulty: 2 Medium

Topic: The Checkered History of Bankruptcy in the United States

Learning Objective: 21-01 Summarize the history of bankruptcy law in the United States.

Bloom's: Understand

AACSB: Reflective Thinking

Accessibility: Keyboard Navigation

22) Which of the following provides a system in which debtors are forced to sell most of their property and use the cash to pay their creditors a portion of the amount owed each one?

A) Family Farmer or Fishing Business Debt Adjustment

B) Reorganization

C) Liquidation

D) Individual Debt Adjustment

Difficulty: 2 Medium

Topic: Liquidation--Chapter 7, Bankruptcy Code

Learning Objective: 21-03 State the criteria necessary to be eligible to file voluntarily for Chapter 7 bankruptcy.

Bloom's: Understand

AACSB: Reflective Thinking

Accessibility: Keyboard Navigation

23) Under the 2005 Bankruptcy Act, debtors are required to meet which of the following conditions file for Chapter 7 bankruptcy?

A) They must provide a federal income tax return for the most recent tax year.

B) Their income should be more than the state median income.

C) They must be involved in a fishing or farming business.

D) They should be commodity brokers or stock brokers.

Difficulty: 2 Medium

Topic: Liquidation--Chapter 7, Bankruptcy Code

Learning Objective: 21-03 State the criteria necessary to be eligible to file voluntarily for Chapter 7 bankruptcy.

Bloom's: Understand

AACSB: Reflective Thinking

Accessibility: Keyboard Navigation

24) Joseph owes $15,000 to Carmel Enterprises, $8,500 to Vulcan Co., $11,000 to David and $11,500 to Sigma Enterprises. He has not been making payments on these debts for the past 20 months. Which of these creditors can force Joseph into involuntary bankruptcy?

A) Carmel Enterprises only

B) Carmel Enterprises and David only

C) Carmel Enterprises, Sigma Enterprises, David, and Vulcan Co.

D) Sigma Enterprises, David and Vulcan Co. only

Difficulty: 3 Hard

Topic: Liquidation--Chapter 7, Bankruptcy Code

Learning Objective: 21-05 State the criteria necessary for creditors to force debtors into involuntary bankruptcy.

Bloom's: Evaluate

AACSB: Analytical Thinking

Accessibility: Keyboard Navigation

25) The court vests the responsibility of liquidating the assets of the debtor for the benefit of all interested parties in the:

A) debtor in possession.

B) creditor in possession.

C) case trustee.

D) primary trustee.

Difficulty: 1 Easy

Topic: Liquidation--Chapter 7, Bankruptcy Code

Learning Objective: 21-05 State the criteria necessary for creditors to force debtors into involuntary bankruptcy.

Bloom's: Remember

AACSB: Reflective Thinking

Accessibility: Keyboard Navigation

26) Stan commits securities fraud and takes $5,000,000 from a variety of investors. Stan is convicted of a crime and then sued by the investors. Stan files for bankruptcy. What relief will the bankruptcy filing grant Stan?

A) Automatic stay on all cash advances paid to a creditor under an open-ended credit plan

B) Automatic stay and discharge of any debt created with the securities fraud

C) Automatic stay, but no discharge of any debt created by the securities fraud

D) Automatic stay and discharge of all debts incurred

Difficulty: 3 Hard

Topic: Liquidation--Chapter 7, Bankruptcy Code

Learning Objective: 21-06 Distinguish between an order for relief and automatic stay in the bankruptcy process.

Bloom's: Analyze

AACSB: Analytical Thinking

Accessibility: Keyboard Navigation

27) A(n) ________ is a self-operating postponement of collection proceedings against the debtor, which goes into effect the moment the order for relief occurs.

A) federal exemption

B) involuntary petition

C) automatic stay

D) means test

Difficulty: 2 Medium

Topic: Liquidation--Chapter 7, Bankruptcy Code

Learning Objective: 21-06 Distinguish between an order for relief and automatic stay in the bankruptcy process.

Bloom's: Understand

AACSB: Reflective Thinking

Accessibility: Keyboard Navigation

28) Which chapter of the bankruptcy code allows a federal homestead exemption?

A) Chapter 11

B) Chapter 7

C) Chapter 8

D) Chapter 12

Difficulty: 2 Medium

Topic: Liquidation--Chapter 7, Bankruptcy Code

Learning Objective: 21-07 List the federal exemptions debtors can exclude from the bankruptcy process.

Bloom's: Understand

AACSB: Reflective Thinking

Accessibility: Keyboard Navigation

29) Which of the following is a duty vested in a trustee by the court, when the debtor is a business and files a Chapter 7 petition?

A) He may be authorized to operate the business for a limited period of time.

B) He may be authorized to make payments made by the debtor within 90 days before the filing of the petition.

C) He may be authorized to sell the debtor's properties and hand over the proceeds of the sales to the debtor.

D) He may be authorized to pay off the debts according to the personal priority list.

Difficulty: 2 Medium

Topic: Liquidation--Chapter 7, Bankruptcy Code

Learning Objective: 21-07 List the federal exemptions debtors can exclude from the bankruptcy process.

Bloom's: Understand

AACSB: Reflective Thinking

Accessibility: Keyboard Navigation

30) In a ________, a qualified debtor creates a plan that alters the repayment schedule.

A) firm offer

B) requirements contract

C) reorganization

D) contract for sale

Difficulty: 1 Easy

Topic: Reorganization--Chapter 11, Bankruptcy Code

Learning Objective: 21-09 Explain Chapter 11 bankruptcy, emphasizing the reorganization process.

Bloom's: Remember

AACSB: Reflective Thinking

Accessibility: Keyboard Navigation

31) Sear Enterprises wants to continue in business, but needs some relief from creditors' claims. Sear Enterprises should consider filing under Chapter ________ of the Bankruptcy Code.

A) 7

B) 11

C) 12

D) 13

Difficulty: 3 Hard

Topic: Reorganization--Chapter 11, Bankruptcy Code

Learning Objective: 21-09 Explain Chapter 11 bankruptcy, emphasizing the reorganization process.

Bloom's: Analyze

AACSB: Reflective Thinking

Accessibility: Keyboard Navigation

32) A debtor who continues to run a business and performs most of the functions that a trustee performs in other types of bankruptcy is called a(n):

A) debtor in bankruptcy.

B) debtor in possession.

C) unimpaired debtor.

D) suspended debtor.

Difficulty: 2 Medium

Topic: Reorganization--Chapter 11, Bankruptcy Code

Learning Objective: 21-09 Explain Chapter 11 bankruptcy, emphasizing the reorganization process.

Bloom's: Understand

AACSB: Reflective Thinking

Accessibility: Keyboard Navigation

33) The only individuals specifically excluded from filing under Chapter 11 are:

A) commodity brokers and stockbrokers.

B) chartered accountants.

C) lawyers and judges.

D) real estate developers.

Difficulty: 2 Medium

Topic: Reorganization--Chapter 11, Bankruptcy Code

Learning Objective: 21-09 Explain Chapter 11 bankruptcy, emphasizing the reorganization process.

Bloom's: Understand

AACSB: Reflective Thinking

Accessibility: Keyboard Navigation

34) Vernon owns a family run farming business. He earned $100,000 in the current financial year. He owes $70,000 that he cannot pay. This debt forms a part of his farm expenses to creditors, but he wants to keep the business running. Which type bankruptcy should Vernon file for?

A) Chapter 7 only

B) Chapter 11 and Chapter 7

C) Chapter 7 and Chapter 12

D) Chapter 12

Difficulty: 3 Hard

Topic: Family Farmer or Fishing Business Debt Adjustment--Chapter 12, Bankruptcy Code

Learning Objective: 21-10 Discuss the requirements for Chapters 12 and 13 bankruptcy.

Bloom's: Evaluate

AACSB: Analytical Thinking

Accessibility: Keyboard Navigation

35) According to Chapter 13 of the Bankruptcy Code, which of the following statements is correct?

A) Involuntary filings are permitted.

B) The debtor should be able to pay the entire amount they owe to each creditor.

C) The debtor must have an already established steady income.

D) Corporations and partnerships can file.

Difficulty: 2 Medium

Topic: Individual Debt Adjustment--Chapter 13, Bankruptcy Code

Learning Objective: 21-10 Discuss the requirements for Chapters 12 and 13 bankruptcy.

Bloom's: Understand

AACSB: Reflective Thinking

Accessibility: Keyboard Navigation

36) The maximum time period that is allowed for Chapter 13 debtors to complete the payment plan is ________ years.

A) eight (8)

B) ten (10)

C) five (5)

D) twelve (12)

Difficulty: 2 Medium

Topic: Individual Debt Adjustment--Chapter 13, Bankruptcy Code

Learning Objective: 21-10 Discuss the requirements for Chapters 12 and 13 bankruptcy.

Bloom's: Understand

AACSB: Reflective Thinking

Accessibility: Keyboard Navigation

37) Of the groups listed below, only ________ can take advantage of Chapter 13 provisions.

A) self-employed people

B) corporations

C) partnerships

D) educational institutions

Difficulty: 2 Medium

Topic: Individual Debt Adjustment--Chapter 13, Bankruptcy Code

Learning Objective: 21-10 Discuss the requirements for Chapters 12 and 13 bankruptcy.

Bloom's: Understand

AACSB: Reflective Thinking

Accessibility: Keyboard Navigation

38) Under Chapter 13 of the Bankruptcy Code, a debtor must begin payments within a period of ________ from submission.

A) three days

B) thirteen days

C) thirty days

D) thirty-three days

Difficulty: 1 Easy

Topic: Individual Debt Adjustment--Chapter 13, Bankruptcy Code

Learning Objective: 21-10 Discuss the requirements for Chapters 12 and 13 bankruptcy.

Bloom's: Remember

AACSB: Reflective Thinking

Accessibility: Keyboard Navigation

39) Under Chapter 13 of the Bankruptcy Code, what happens if the debtor submits the repayment plan to the court, but the court has yet to hold its hearing?

A) The debtor is not required to start payments within the stipulated period of thirty days.

B) The debtor makes the payments to the trustee.

C) The debtor makes payments individually to the creditors.

D) The debts of the debtor are discharged.

Difficulty: 3 Hard

Topic: Individual Debt Adjustment--Chapter 13, Bankruptcy Code

Learning Objective: 21-10 Discuss the requirements for Chapters 12 and 13 bankruptcy.

Bloom's: Apply

AACSB: Reflective Thinking

Accessibility: Keyboard Navigation

40) Trudy has a steady income, but is behind on her payment of debts. Trudy wants to pay her debts, but needs some relief from her creditors. Discuss what type of Bankruptcy Procedure would best fit her case.

Difficulty: 3 Hard

Topic: Individual Debt Adjustment--Chapter 13, Bankruptcy Code

Learning Objective: 21-10 Discuss the requirements for Chapters 12 and 13 bankruptcy.

Bloom's: Evaluate

AACSB: Analytical Thinking

Accessibility: Keyboard Navigation

41) Fritz is a professional painter and owns a truck worth $10,000 and tools worth $3,000. He owns a very modest house worth $17,000. He has numerous unsecured debts totaling $500,000 and considers filing for bankruptcy. Discuss the bankruptcy alternatives for Fritz.

Difficulty: 3 Hard

Topic: Liquidation--Chapter 7, Bankruptcy Code; Reorganization--Chapter 11, Bankruptcy Code

Learning Objective: 21-04 Explain the "means test" that is required for filing Chapter 7 bankruptcy.; 21-09 Explain Chapter 11 bankruptcy, emphasizing the reorganization process.

Bloom's: Analyze

AACSB: Analytical Thinking

Accessibility: Keyboard Navigation

42) Stan has debt problems. He has unpaid alimony and child support payments. Big Bank is threatening to repossess his car because he is behind on his payments, and a variety of creditors are threatening to sue. He wants to discharge most of his debts and begin with a clean slate. Discuss what action will help Stan's situation.

Difficulty: 3 Hard

Topic: Liquidation--Chapter 7, Bankruptcy Code

Learning Objective: 21-04 Explain the "means test" that is required for filing Chapter 7 bankruptcy.

Bloom's: Evaluate

AACSB: Analytical Thinking

Accessibility: Keyboard Navigation

43) Joan's bankruptcy proceeding consists of the following debts: back taxes of $10,000, credit card debt of $25,000, home utility bills of $300, and a $10,000 car loan. Also, there are bankruptcy administrative expenses of $1,000. Discuss the order in which these debts will be settled.

Difficulty: 3 Hard

Topic: Liquidation--Chapter 7, Bankruptcy Code

Learning Objective: 21-08 Recognize those debts that have priority payment status under the Bankruptcy Code.

Bloom's: Evaluate

AACSB: Analytical Thinking

Accessibility: Keyboard Navigation

44) Josh, a college student, has been told by his friends that filing for bankruptcy after graduation will discharge all his student loans. Discuss if this is correct.

Difficulty: 3 Hard

Topic: Liquidation--Chapter 7, Bankruptcy Code

Learning Objective: 21-08 Recognize those debts that have priority payment status under the Bankruptcy Code.

Bloom's: Analyze

AACSB: Analytical Thinking

Accessibility: Keyboard Navigation

45) Overwhelmed by his debt, Jaime decided that he would file for Chapter 7 bankruptcy the following month. Fifteen days before he filed, Jaime took out a $3,000 cash advance on one of his credit cards, and used the money to purchase and install a hot tub in his bathroom. Jaime believed that he would be able to discharge the debt for the hot tub when he went through the bankruptcy proceeding. Was he correct in his belief? Why or why not?

Difficulty: 3 Hard

Topic: Liquidation--Chapter 7, Bankruptcy Code

Learning Objective: 21-08 Recognize those debts that have priority payment status under the Bankruptcy Code.

Bloom's: Evaluate

AACSB: Analytical Thinking

Accessibility: Keyboard Navigation

46) Morgan and Flynn owned a partnership business that was facing financial difficulties. The debts of the business were getting out of hand. However, neither Morgan nor Flynn wanted to close down the business and felt that, with a few changes, they could turn the business around and make a profit. Which chapter of the Bankruptcy Code should they file under? Why?

Difficulty: 3 Hard

Topic: Reorganization--Chapter 11, Bankruptcy Code

Learning Objective: 21-09 Explain Chapter 11 bankruptcy, emphasizing the reorganization process.

Bloom's: Evaluate

AACSB: Analytical Thinking

Accessibility: Keyboard Navigation

47) Judy's Print Shop has filed for a Chapter 11 bankruptcy, and Judy wonders if her creditors, with whom she has had an increasingly abrasive relationship, will have any say in her reorganization plan. Discuss the role of the creditors in a Chapter 11 reorganization.

Difficulty: 3 Hard

Topic: Reorganization--Chapter 11, Bankruptcy Code

Learning Objective: 21-09 Explain Chapter 11 bankruptcy, emphasizing the reorganization process.

Bloom's: Evaluate

AACSB: Analytical Thinking

Accessibility: Keyboard Navigation

48) Barnaby is a farmer who receives two-thirds of his total income from the sale of oranges. After two consecutive years of early frosts that destroyed his orange harvest, Barnaby found himself deep in debt. Seventy percent of his debt resulted from farm expenses. Can he file for Chapter 12 bankruptcy? Why or why not?

Difficulty: 3 Hard

Topic: Family Farmer or Fishing Business Debt Adjustment--Chapter 12, Bankruptcy Code

Learning Objective: 21-10 Discuss the requirements for Chapters 12 and 13 bankruptcy.

Bloom's: Analyze

AACSB: Analytical Thinking

Accessibility: Keyboard Navigation

49) Tom has filed for a Chapter 13 bankruptcy and one of his creditors is attempting to organize the other creditors into a group to petition the bankruptcy judge to allow them to prepare a debt readjustment plan for Tom. Will the bankruptcy judge allow this action by creditors?

Difficulty: 3 Hard

Topic: Individual Debt Adjustment--Chapter 13, Bankruptcy Code

Learning Objective: 21-10 Discuss the requirements for Chapters 12 and 13 bankruptcy.

Bloom's: Evaluate

AACSB: Analytical Thinking

Accessibility: Keyboard Navigation