Problem on bankruptcy petition


Problem: Which of the following must be stated in a Chapter bankruptcy petition?

a. for both voluntary and involuntary petitions, that debts exceed assets

b. for voluntary petitions, that the debtor has debts, and for involuntary petitions, that the debtor is not paying debts as they come due

c. for voluntary petitions, that debts exceed assets, and for involuntary petitions that the debtor is not paying debts as they come due

d. for voluntary petitions, that the debtor is not paying debts as they come due, and for involuntary petitions, that the debtor has debts

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Finance Basics: Problem on bankruptcy petition
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