The two general roles of bankruptcy include:

A) protections of banks and protection of those who supply credit.
B) to relieve debtors of all debt and to give financial institutions an opportunity to recoup losses.
C) allowing the IRS to receive outstanding tax liabilities and for debtors to clear the slate with the IRS.
D) providing protection to creditors and provide opportunities to debtors to gain a fresh financial start.
E) to clear state dockets of creditor claims and to help debtors receive a fresh start financially.

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Ashman Preet · Accepted Answer

Final Answer : D, Explanation :  The two general roles of bankruptcy are to provide protection to creditors by ensuring an orderly process for dealing with debtor's assets and liabilities, and to offer debtors an opportunity to gain a fresh financial start by discharging certain debts and reorganizing their financial affairs.

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