In class we discuss Bankruptcy. Which of the following are true regarding Bankruptcy $($check all that apply$)$

a$.$ If a company files for bankruptcy, it must then sell all its assets to repay creditors and owners

b$.$In the news we sometimes hear that a company is "applying for creditor protection". This means they are applying to a bankruptcy court.

c$.$ Bankruptcy can allow a company to restructure its business and debts, and then emerge and return to business

d$.$ One of the primary purposes of Bankruptcy laws is to provide an opportunity for a business to deal with its debt and to preserve business and employment, thus avoiding a long list of negative consequences such as unemployement, social welfare payments, and loss of income tax revenues.

e$.$ For a company to "declare bankruptcy", it must apply to the courts

f$.$ Bankruptcy may result in a company having to liquidate all its assets to repay creditors, but not always