Asked by Nomzamo Lubisi on May 13, 2024
Verified
Debtors have to file a statement of their calculations under the ________ as part of their schedule of current income and expenditures.
A) limiting test
B) ends test
C) means test
D) asset test
Means Test
An analysis conducted to determine an individual's financial eligibility for certain government assistance programs, based on income and assets.
Current Income
Current Income signifies the revenue or income generated from investments or employment within a specified current period, typically considered for personal or business financial analysis.
- Achieve insight into the essential aspects and methodologies of bankruptcy proceedings.
- Become familiar with the effects of the 2005 updates to bankruptcy legislation.
Verified Answer
SS
Shirley SlatonMay 17, 2024
Final Answer :
C
Explanation :
Debtors have to file a statement of their calculations under the means test as part of their schedule of current income and expenditures.
Learning Objectives
- Achieve insight into the essential aspects and methodologies of bankruptcy proceedings.
- Become familiar with the effects of the 2005 updates to bankruptcy legislation.