Esmeralda is a debtor in a Chapter 7 bankruptcy proceeding. Which of the following is not a duty of Esmeralda under Chapter 7?
a. To undergo credit counseling with an approved agency before filing.
b. To provide a repayment schedule for the debt owed to each creditor listed on the creditor list.
c. To provide a list of all her assets and debts.
d. To provide a schedule of all her income and expenditures.
b
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The concept of a deficiency judgment applies to:
A) Secured debt only. B) Unsecured debt only. C) Both secured and unsecured debt. D) Neither secured nor unsecured debt.
The limited liability company’s articles of organization do not usually include
A. the name of the limited liability company. B. the names and addresses of the managers who are personally liable for the debts and obligations of the company. C. the name and address of the agent for service of process. D. the duration of the company or a statement that the company has perpetual existence.
What is an associative entity? What four conditions should exist in order to convert a relationship to an associative entity?
What will be an ideal response?
Jenny and Rose are hairstylists that have decided to open their own salon by starting a general partnership. The first step to ensuring a successful partnership would be to ________
A) guarantee that they each have 25 clients to bring into the partnership B) submit the partnership formation fee to the state C) draw up a partnership agreement D) submit the limited liability forms before they see clients E) arrange for the special tax filing considerations a partnership requires