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    Question

    When an organization is unable to meet its financial

    obligations, it files for which of the following in court?
    A Account payable Correct Answer Incorrect Answer
    B Account receivable Correct Answer Incorrect Answer
    C Debt financing Correct Answer Incorrect Answer
    D Bankruptcy Correct Answer Incorrect Answer

    Solution

    Bankruptcy is a legal process for individuals or businesses that cannot repay their outstanding debts. It provides relief through asset liquidation or a structured repayment plan.

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