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In 2006, Ford Motor Company announced it would severely cut back its automobile production. For parts companies supplying Ford its parts, this represented a(n)
Revocation
The official cancellation or withdrawal of an offer, right, or privilege, often requiring a formal declaration.
Renunciation
The formal or explicit declaration that one refuses to carry out, or is withdrawing from, an agreement or obligation.
Termination
The act of ending something, such as a contract, employment, or agreement, either by mutual consent or unilaterally by one party.
Permanent Loss
A situation where an asset loses value indefinitely, often due to fundamental changes in its market or condition.
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