Which one of these statements correctly identifies a condition which must be met for creditors to force a firm into involuntary bankruptcy?

a. The creditors that comprise 30 percent or more of the firms debt must agree on a plan prior to filing the involuntary petition.

b. The firm must be at least 120 days delinquent in its debt payments. At least one-third of a firms known creditors must participate in the filing.

c. If there are more than a dozen creditors, then at least 3 with claims totaling $13,475 or more must participate in the filing.

d. Any individual creditor that is owed $500,000 or more and has either a principal or interest payment that is more than 30 days delinquent can file an involuntary petition.