Which of the following statements is correct concerning the voluntary filing of a petition of bankruptcy?
a. If the debtor has 12 or more creditors, the unsecured claims must total at least 15,325.
b. The debtor must be solvent.
c. If the debtor has less than 12 creditors, the unsecured claims must total at least 15,325.
d. The petition may be filed jointly by spouses (AICPA adapted).
Question 2
Companies must constantly monitor their water pollution and report what they are dumping in discharge monitoring reports, even if it shows they are violating the law.
a. True
b. False
Indicate whether the statement is true or false
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