Which of the Following Parties Cannot Be Forced into Involuntary

question 87

Multiple Choice

Which of the following parties cannot be forced into involuntary bankruptcy under Chapter 7?

• A)Farmers
• B)Ranchers
• C)Nonprofit organizations
• D)Farmers,ranchers,and nonprofit organizations
• E)Farmers and ranchers,but nonprofit organizations can be forced into involuntary bankruptcy

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Definitions:

Stated Value

A value assigned to no-par value stock by the corporation's board, not based on market price but used for accounting purposes.

Issue Price

Issue price is the price at which a new set of securities, such as bonds or stock, is offered to the public for the first time.

Preferred Stock

A class of stock that offers dividends and/or liquidation preferences over common stock but typically does not carry voting rights.

Par Value

A nominal value assigned to shares of stock by a company's charter, which has little relation to its market value.