Dave,who is in financial trouble,has ten creditors.An involuntary bankruptcy petition against Dave requires that three of these creditors sign the petition.

Question

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If a debtor has 12 or more creditors,an involuntary petition to declare him bankrupt must be signed by at least three creditors.If there are fewer than 12 creditors,then an involuntary petition can be filed by a single creditor.

Dave,who Is in Financial Trouble,has Ten Creditors