An involuntary petition for reorganization may be filed against a firm if any one of the following conditions are met EXCEPT
A. the book value of the firm’s assets is less than the stated liabilities.
B. past-due debts of $5,000 or more.
C. three or more creditors who can prove aggregate claims of $5,000 against the firm.
D. insolvency.
Answer:A
An involuntary petition for reorganization may be filed against a firm if any one of the following conditions are met EXCEPT
A. the book value of the firm’s assets is less than the stated liabilities. B. past-due debts of $5,000 or more. C. three or more creditors who can prove aggregate claims of $5,000 against the firm. D. insolvency.