Which of the Following Is a Distinguishing Feature of a Division

question 62

Multiple Choice

Which of the following is a distinguishing feature of a Division II Proposal?

• A) The proposal is approved if creditors representing two thirds of the total amount owed and a majority in number vote to accept it.
• B) A rejection of the proposal does not automatically result in bankruptcy.
• C) The proposal is accepted if creditors representing half of the total amount owed and a majority in number vote to accept it.
• D) They tend to be used where individuals have debts that exceed $250 000.