1. What does the term insolvent mean? 2. Why should a company monitor the reporting of goodwill prior to the filing of a bankruptcy petition? 3. What situations might raise substantial doubt that a company can meet its financial obligations as they come due for one year from the issuance of the financial statements? A company believes that there might be substantial doubt that it can meet its financial obligations as they come due for one year from the issuance of its financial statements. What plans might mitigate 4. this concern? 5. A company's management believes that substantial doubt exists that the company can meet its financial obligations as they come due for a one-year period from the issuance of its financial state- ments. Management is studying the plans that have been developed to avoid this problem. What two decisions must management make? 6. A company's management believes that substantial doubt exists that the company can meet its financial obligations as they come due for a one-year period of time from the issuance of its finan- cial statements. What possible disclosures are required? 7. What federal legislation governs most bankruptcy proceedings? 8. What are the primary objectives of a bankruptcy proceeding? 9. A bankruptcy case can begin with either a voluntary or an involuntary petition. What is the differ- ence? What are the requirements for an involuntary petition? 10. A bankruptcy court enters an order for relief. How does this action affect an insolvent company and its creditors