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Question 1The trustee in bankruptcy of a landlord-debtor under a Chapter 7 liquidation. Must be elected by the creditors immediately after a bankruptcy petition is filed.
May not be appointed by the court after the order for relief has been entered. Must reject the executory contracts of the debtor. May assign the leases of the debtor.Correct Answer DThis answer is correct. The trustee may assign the leases of the landlord-debtor if such action is considered to be in the best interest of the debtor’s estate. The trustee’s duty is to acquire as many assets as possible for distribution to the creditors who filed claims in the bankruptcy proceeding. End of quizWe hope you found this week’s quiz helpful. These questions are just a small sample of what you will find in Wiley CPAexcel.
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