Micro Corporation’s creditors agree to a workout with the firm. This is
A. a Chapter 11 bankruptcy proceeding.
B. an accountant’s summary of a debtor’s financial situation.
C. a privately negotiated adjustment of creditor-debtor relations.
D. a reorganization of corporate debts and debtors.
Answer:C
Micro Corporation’s creditors agree to a workout with the firm. This is
A. a Chapter 11 bankruptcy proceeding. B. an accountant’s summary of a debtor’s financial situation. C. a privately negotiated adjustment of creditor-debtor relations. D. a reorganization of corporate debts and debtors.