Which of the following is the minimum limitation necessary for filing an involuntary bankruptcy petition in connection with a company that has 57 unsecured creditors?a. The signature of 12 creditors to whom the debtor owes at least $14,775 in unsecured debt.b. The signature of six creditors to whom the debtor owes at least $18,250 in unsecured debt.c. The signature of three creditors to whom the debtor owes at least $15,775 in unsecured debt.d. The signature of nine creditors to whom the debtor owes at least $23,225 in unsecured debt.
Which of the following is the minimum limitation necessary for filing an involuntary bankruptcy petition in connection with a company that has 57 unsecured creditors?a. The signature of 12 creditors to whom the debtor owes at least $14,775 in unsecured debt.b. The signature of six creditors to whom the debtor owes at least $18,250 in unsecured debt.c. The signature of three creditors to whom the debtor owes at least $15,775 in unsecured debt.d. The signature of nine creditors to whom the debtor owes at least $23,225 in unsecured debt.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Which of the following is the minimum limitation necessary for filing an involuntary bankruptcy petition in connection with a company that has 57 unsecured creditors?
a. The signature of 12 creditors to whom the debtor owes at least $14,775 in unsecured debt.
b. The signature of six creditors to whom the debtor owes at least $18,250 in unsecured debt.
c. The signature of three creditors to whom the debtor owes at least $15,775 in unsecured debt.
d. The signature of nine creditors to whom the debtor owes at least $23,225 in unsecured debt.
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