For each of the following statements about bankruptcy, label ALL those that are true:

a) A firm that has difficulty convincing its holdouts to exchange their bonds may force this solution on them by a prepackaged bankruptcy if a majority of its bondholders are in favor of the exchange offer.

b) A manager of a firm that is unable to post an operating profit would prefer traditional Chapter 11 over an exchange offer

c) A firm with no hope of going forward as a going concern and must be liquidated will most easily complete the liquidation by doing an exchange offer.

d) Debtor in possession financing is available to firms in bankruptcy, regardless of whether the firm has entered bankruptcy via a prepackaged plan or a traditional plan