Which One of the Following Statements Is Correct Concerning a Chapter

Multiple Choice

Which one of the following statements is correct concerning a Chapter 7 bankruptcy?

A) A firm reorganizes its operations in an effort to return to being a viable concern.
B) A trustee will assume control of the firm's assets until those assets can be liquidated.
C) Chapter 7 bankruptcies are always involuntary on the part of the firm.
D) The claims of creditors are paid prior to the bankruptcy administrative costs.
E) The firm generally issues new shares of stock prior to coming out of bankruptcy.