a debtor gets to keep some assets, even after declaring bankruptcy. these assets are known as which of the…

a debtor gets to keep some assets, even after declaring bankruptcy. these assets are known as which of the following?\nliquidations\npriorities\ndischarges\nexemptions

a debtor gets to keep some assets, even after declaring bankruptcy. these assets are known as which of the following?\nliquidations\npriorities\ndischarges\nexemptions

Answer

Brief Explanations:

In bankruptcy law, exemptions allow a debtor to keep certain assets. Liquidations involve selling assets to pay debts. Discharges relieve debtors of personal liability for certain debts. Priorities refer to the order in which creditors are paid. Exemptions are the assets a debtor can retain.

Answer:

Exemptions