A ________ Occurs When the Terms of the Obligation Are

question 50

Multiple Choice

A ________ occurs when the terms of the obligation are altered so as to make the new terms less attractive to the debt holder than the original terms.

• A) cross default
• B) restructuring
• C) downgrading
• D) repudiation

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Definitions:

FASB Accounting Standards Codification

The authoritative source of generally accepted accounting principles (GAAP) for public and private companies, established by the Financial Accounting Standards Board (FASB).

Health Care Entities

Organizations involved in the provision of health care services such as hospitals, clinics, and nursing homes.