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      Question

      The goal of the Insolvency and Bankruptcy code is to

      address insolvencies in a timely way; the evaluation and viability determination must be done within how many days
      A 30 Correct Answer Incorrect Answer
      B 60 Correct Answer Incorrect Answer
      C 120 Correct Answer Incorrect Answer
      D 150 Correct Answer Incorrect Answer
      E 180 Correct Answer Incorrect Answer

      Solution

      The goal of the IBC is to address insolvencies in a timely way; the evaluation and viability determination must be done within 180 days. The Company is subject to a 180-day moratorium (which can be extended up to 270 days). The resolution time frame for startups and small businesses is 90 days, which can be extended by 45 days.

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