Which of the following statements is FALSE? If a firm is truly insolvent, then bankruptcy may be forced on it, but the bankruptcy laws make it impossible for it to be used as a means for achieving strategic ends. The bankruptcy code in the United States has been used by companies to avoid or reduce the payment of heavy legal judgments. The bankruptcy code in the United States has been used by companies to void or renegotiate collective bargaining agreements and other onerous contract. Although such strategic bankruptcy may save companies, critics have charged that such strategic bankruptcies are an abuse of the Bankruptcy Code