Which of the Following Statements Is TRUE with Respect to the Relationship

Multiple Choice

Which of the following statements is TRUE with respect to the relationship between bankruptcy and insolvency?

A) A person can be bankrupt without being insolvent.
B) An act of insolvency automatically triggers bankruptcy.
C) Before a person can be put into bankruptcy involuntarily, a court must find that they have committed an act of bankruptcy, which includes being insolvent.
D) While an individual can be either bankrupt or insolvent, a corporation can be bankrupt but never insolvent.
E) Bankruptcy begins with a bankruptcy order, whereas insolvency begins with a receiving order.