10.

By definition, which of the following costs are included in the term "financial distress

costs"?

I. direct bankruptcy costs

II. indirect bankruptcy costs

III. direct costs related to being financially distressed, but not bankrupt

IV. indirect costs related to being financially distressed, but not bankrupt

A.

I only

B.

III only

C.

I and II only

D.

III and IV only

E.

I, II, III, and IV