Which One of the Following Is a Requirement That Must

question 3

Multiple Choice

Which one of the following is a requirement that must be met before an involuntary bankruptcy petition can be filed when there are at least 12 unsecured creditors?

• A) The petition must be filed by all creditor(s) to whom the debtor owes at least $14,425.
• B) The petition must be signed by creditor(s) with unsecured debts of at least $5,000.
• C) The petition must be signed by a majority of the creditor(s).
• D) The petition must be signed by creditor(s) to whom the debtor owes more than half of its debts.
• E) The petition must be signed by at least three creditors with unsecured debts of at least $14,425.

---

Definitions:

Collective Bargaining Agreement

A written contract between an employer and a union representing the employees, outlining terms of employment, wages, hours, and working conditions.

Informal Agreement

An understanding or arrangement that is not formally documented but is recognized and respected by those involved.

Terms and Conditions

The set of rules and policies that govern employment contracts, including work hours, salaries, benefits, and job responsibilities.

Bargain Collectively

The process by which workers, through their unions, negotiate with their employers to establish the terms of employment, including wages, benefits, and working conditions.