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Social Studies, 06.05.2020 02:25 gtemple22pdzs4j

Which of the following is true with respect to bankruptcy? a. Per the federal bankruptcy code, a municipality can be declared bankrupt but not insolvent. b. Many major cities have avoided bankruptcy by being placed under the control of financial control boards by their state governments. c. The concept of bankruptcy does not apply to governments because they have the authority to increase taxes and reduce services. d. Municipalities that are declared bankrupt by a court are brought under the control of independent trustees whose primary objective is to ensure that obligations to bondholders are satisfied in full.

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