Question

If a business that sells gidgits files for bankruptcy to liquidate all of its assets in order to repay its creditors, it is going to file a Chapter 11 reorganization.

True
False​

Answer 1

Answer:true

Step-by-step explanation:

Answer 2

False, I'm pretty sure.

Step-by-step explanation:

A Chapter 11 bankruptcy doesn't involve the business liquidating all of its assets; the business continues to operate and the debts are just reorganized. If they want to liquidate all of their assets, they should file a Chapter 7 bankruptcy, which is a lot less expensive anyway.