If a municipality files for bankruptcy, how does this happen, and what is the sequence of events that would lead up to this?

How are obligations (other than deferred income taxes) disclosed in the case of a corporation that has emerged from bankruptcy?

Who can develop reorganization plans in a Chapter 11 bankruptcy?

Bankruptcy cases are heard by:   a. either federal or state courts.   b. the U.S. Bankruptcy Courts within the federal court system.   c. the U.S. Court of Appeals for the Federal Circuit, if an appeal is made.   d. only special courts within the state court system.

What would happen to the corporation if it failed to file by-laws? Would it dissolve the corporation?

In which court are bankruptcy cases are filed? Multiple Choice Federal magistrate's court The state court in which the debtor is domiciled Federal district court in the state court where the creditor does business The state court where the debtor's property is located

Among the following transactions: municipal bond income. accrual of a loss contingency. a balance in the Unearned Rent account at year end. a fine resulting from violations of regulations. Which one(s) will result in a permanent difference in pretax financial income and taxable income?  Enter 1, 2, 3, or 4 that represents the correct answer. b & c. d only. a & d. a, c, & d.

A reorganization under Chapter 11 of the Bankruptcy Code Amendments will be approved by the courts even if creditors receive less than would be the case with a Chapter 7 liquidation.            True or False

How do courts assess the fairness and feasibility of reorganizationplans?

The administrative expenses are for trustees and other costs of administering the debtor corporation’s estate. How much must be received by the creditors, respectively?