In a chapter 7 liquidation, when a firm's debts are discharged, it means that: a-...
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Accounting
In a chapter 7 liquidation, when a firm's debts are discharged, it means that:
a- the debts are canceled, with the creditors having no further claim
b- the debts have priority and are paid ahead of other debts
c-the debts are subject to partial payment, depending on liquidation assets
d-the debts are in the process of being evaluated by the courts
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