Which of the Following Is True Regarding the Involuntary Petition

question 43

Multiple Choice

Which of the following is true regarding the involuntary petition for bankruptcy filed by some of Mona's creditors?

• A) Involuntary petitions are not allowed under Chapter 7.
• B) At least 5 creditors must file in order for an involuntary petition to be accepted; therefore, the involuntary petition will be dismissed in Mona's case.
• C) Only 3 creditors may file an involuntary petition, but their aggregate claims must be $20,100; therefore, the petition will be dismissed in Mona's case.
• D) The petition was properly filed because 3 or more creditors with unsecured claims totaling $14,425 or more signed the petition for involuntary bankruptcy.
• E) The petition was properly filed because only 2 or more creditors with secured or unsecured claims totaling at least $10,500 must sign a petition for involuntary bankruptcy.

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A global public health crisis caused by the spread of the Human Immunodeficiency Virus (HIV), leading to Acquired Immune Deficiency Syndrome (AIDS).

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