Examlex
Which of the following is one of the industry categories created by the Standard Industrial Classification system?
Involuntary Bankruptcy
A legal process initiated by creditors seeking to collect debts from a company or individual that cannot pay its obligations.
Petition Filed
The act of formally submitting a document to a court or official body requesting a legal action or judgment.
Bankruptcy Petition
A legal document filed by an individual or business entity declaring inability to meet financial obligations to creditors, seeking relief through bankruptcy proceedings.
Cash Reserves
Funds that a company or individual keeps on hand to meet short-term and emergency funding requirements.
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