Answer question below:

I. TRUE or FALSE. Write TRUE if the statement is correct and FALSE if incorrect. . 1. The rehabilitation proceedings initiated by the creditor are known as voluntary proceedings. 2. If the court finds the petition for voluntary rehabilitation is sufficient in form and substance, it will issue a closure order. 3. The right to express consumer interests in the making and execution of government policies is known as the consumer's right to redress. 4. A consumer product may be sold at a price higher than that stated in the price tag. 5. The Executive Committee takes the place of the management and the governing body of the debtor and assume their rights and responsibilities upon order of the court. 6. Inducing a consumer to enter into sales, lease or availment of services is a deceptive sales act and practice. 7. A zero-balance account is one in which checks "bounce" due to insufficient funds available to cover checks presented. 8. The Financial Rehabilitation and Insolvency Act expressly provides that "debtor" shall refer to individual debtor. 9. Product warranty include repair, replacement and refund.. 10. The consumer Act of the Philippines provides protection to consumers against hazards to health and safety and deceptive, unfair and unconscionable sales acts and practices. 11. Consumer choice indicate competition. 12. Exclusive distributorship agreement are covered by the Philippine Competition Act. 13. The Philippine Competition Commission is a judicial body. 14. Exclusive distributorship agreements between suppliers and manufacturers are anti-competitive. 15. The Philippine Competition Act applies to the private sector only