The Acceptance Method Is a Method Whereby a Bankruptcy Court

question 34

True/False

The acceptance method is a method whereby a bankruptcy court confirms a plan of reorganization if the creditors accept the plan and if other requirements are met.

---

Definitions:

Retained Earnings

The portion of net earnings not distributed as dividends, but retained by the company to be reinvested in its core business or to pay debt.

Accounting Principle

Guidelines and rules that govern the accounting practices and procedures.

Financial Statement Presentation

The manner in which a company's financial data is organized and displayed in its financial statements.

Comprehensive Income

The total change in equity for a reporting period that comes from transactions, other events, and circumstances from sources not directly related to investments by or distributions to equity shareholders.