1. A bankruptcy proceeding may either_________________ or ___________the business. 2. _______________ of the Bankruptcy Reform Act of 1978 outlines the procedures to be followed in liquidation. 3....

1. A bankruptcy proceeding may either_________________ or ___________the business.

2. _______________ of the Bankruptcy Reform Act of 1978 outlines the procedures to be followed in liquidation.

3. Liquidation is called for when the________________ value is greater than the ______________value of the business.

4. _______________ is the process of exchanging liabilities for other types of liabilities or equity securities.