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Under Chapter 11 of the Bankruptcy Act, which of the following is not correct? Multiple Choice Typically in the case of a business, the debtor
Under Chapter 11 of the Bankruptcy Act, which of the following is not correct?
Multiple Choice
- Typically in the case of a business, the debtor continues operations.
- The creditors may petition for an involuntary action.
- One or more committees of creditors is appointed to participate in bankruptcy procedures.
- Debtors may not voluntarily seek reorganization.
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