Ace Company has been having cash flow problems and has started waiting several weeks before making payments on its debts. In fact, the company has a policy whereby all debts are paid 24 days after they come due. This delay has helped alleviate some of the cash problems. Which of the following is true? Multiple choice question. Ace is insolvent and an involuntary bankruptcy petition will be successful against the company. Ace is insolvent and should seek a voluntary bankruptcy. Ace is not insolvent at this point in time