BUSINESS CONCERNS - DEREGULATION AND BANKRUPTCYQUIZ NO. 3

Check the boxes that are TRUE.

Financial responsibility in the home is found in the Bible passage of 1 Timothy 5:8. A Chapter 13 bankruptcy filing is called a reorganization. A Chapter 7 bankruptcy is known as a "straight liquidation."

______was the first state to undertake the restructuring of the electric utility industry on a state-wide basis.

california

Deregulation is about ______ rates and ______ supplies

decreasing, increasing

The dropping or relaxing of restrictions and limits Growth through successful scientific research and strength A huge union of large corporations or utilities Those that are in support of something Central points of business Work done for others Guidelines for controlling costs and expenditures by the consumer Realigning or adjusting to meet new qualifications or needs

deregulation technological advance mega merger proponents hub service price-setting standard restructuring

The debtor surrenders his nonexempt property for division among his creditors, but will still be obligated to pay any debts that the bankruptcy court determines have not been forgiven by the division among the creditors. This is known as

liquidation

After deregulation, the California electric customer had his choice between _____ utilities throughout the state.

7

The section of the U.S.Code which deals with the rules and procedures of Bankruptcy The act of being declared legally insolvent The responsibility to pay debts and due notes A promise or obligation to pay to another a certain amount of money which has no collateral Obligation to pay to another a certain amount of money which has collateral that the creditor may seize The right to take, sell, or hold property as security or payment of a debt

title 11 bankruptcy financial obligation unsecured debt secured debt lien

Select the purposes of deregulation:

to offer consumers greater choice to encourage technological advances to lower rates

One purpose of deregulation is to open up the doors of competition to many businesses in order to offer consumers greater choice in purchasing services or products.

true

The histories of Great Britain and France are filled with terrible stories of debtors' prisons and penal colonies where people were sent because they could not pay their debts.

true