The major difference between Chapter 7 and Chapter 11 is that:

Select one:

A. liquidation occurs in Chapter 11 but reorganization is the objective under Chapter 7.

B. there is no priority of claims under Chapter 11.

C. liquidation automatically occurs in Chapter 7 but may or may not occur under Chapter 11.

D. no administrative or legal costs are incurred under Chapter 7.

E. Chapter 11 is voluntary and Chapter 7 is involuntary.