An Involuntary Petition in Bankruptcy May Not Be Commenced Against

question 29

Multiple Choice

An involuntary petition in bankruptcy may not be commenced against:

• A) a nonprofit corporation.
• B) an individual.
• C) a for-profit corporation.
• D) any of the above.

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Definitions:

Opportunity Cost

Turning down potential benefits from several alternatives by locking in on one.

College Degree

An academic degree conferred by colleges or universities upon students who have completed a course of study or major.

Lifetime Earnings

The total amount of money a person is expected to earn over the course of their career.

Marginal Cost

The charge incurred from the production of an extra unit of a product or service.