Financial Restructuring Generally Refers to Actions Taken by the Firm

question 52

True/False

Financial restructuring generally refers to actions taken by the firm to change total debt and equity structure.

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Definitions:

Sales Journal

A specialized accounting journal used to record all sales of merchandise on credit.

Accrual Basis

A financial recording technique that documents incomes and expenses as they are incurred or earned, without taking into account the timing of cash transactions.

Cash Basis

An accounting method wherein revenues and expenses are recorded when they are actually received or paid, rather than when they are incurred.