Only The Most Financially Savvy Can Pass This Monetary Terms Quiz

General Knowledge 1/13/20

Which of the following is TRUE about bankruptcy?

15%
Dollars and coins are kept in a glass container.
Retry Correct Incorrect Bankruptcy is a legal proceeding handled in federal court. It provides a fresh start to an individual or company by liquidizing their assets as a form of repayment and forgiving outstanding debt.
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Robert Alexander/Getty Images
Robert Alexander/Getty Images

Which of the following is TRUE about bankruptcy?

  • All types of bankruptcy remain on record for the same amount of time
  • Assets are not taken into account
  • It is handled in federal court
  • Outstanding balances still must be paid in full
15%

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