Which of the following is a requirement for an involuntary Chapter 7 bankruptcy petition?
a. The debtor must owe at least $150,000 in unsecured claims to the creditors who file.
b. The debtor must have at least three creditors join in the petition if the debtor has 12 or more creditors. If the debtor has fewer than 12 creditors, any single creditor or group can file a petition.
c. The creditors must have tried to help the debtor overcome the financial difficulties.
d. The debtor must have a majority of the creditors file the petition.
b
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How does a "no-arrival, no-sale" contract differ from an F.O.B. destination contract?
A) Identification will occur in an F.O.B. destination contract, but not in a no-arrival, no-sale contract. B) If the goods fail to reach their destination, the seller must replace them in an F.O.B. destination contract, but not in a no-arrival, no-sale contract. C) Risk of loss while the goods are in transit is on the seller in an F.O.B. destination contract but on the buyer on a no-arrival, no-sale contract. D) Implied warranties exist in the F.O.B. destination contract, but not in the no-arrival, no-sale contract.
A data set is typically a rectangular array of data, with observations in columns and variables in rows
a. True b. False Indicate whether the statement is true or false
Which one of the following statements is correct?
A. invoice price = flat price - accrued interest B. invoice price = flat price + accrued interest C. flat price = invoice price + accrued interest D. invoice price = settlement price - accrued interest
A cash basis taxpayer purchased a certificate of deposit for $1,000 on July 1, 2015 that will pay $1,100 upon its maturity on June 30, 2017 . The taxpayer must recognize a portion of the income in 2016
a. True b. False Indicate whether the statement is true or false