A condition that must exist for filing an involuntary bankruptcy petition is a. The debtor must have
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A condition that must exist for filing an involuntary bankruptcy petition is
a. The debtor must have debts of at least $10,000.
b. If the debtor has 12 or more creditors, a majority of them must sign the petition.
c. If the debtor has 12 or more creditors, only one need sign the petition, but that creditor must be owed at least $5,000.
d. If the debtor has 12 or more creditors, the required number signing the petition must be owed at least $5,000 in total.
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Related Book For
Advanced Financial Accounting
ISBN: 9781260165111
12th Edition
Authors: Theodore Christensen, David Cottrell, Cassy Budd
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