A Proposal to Creditors,if Rejected by Them,creates Automatically a Bankrupt

question 37

True/False

A proposal to creditors,if rejected by them,creates automatically a bankrupt in the proposer-debtor.

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Definitions:

Merchandise Inventory

The total value of a company's goods that are available for sale at the end of an accounting period.

Cash

Money in the form of coins or banknotes, especially that owned by a person or organization.

Buyer Returns

Goods returned by the buyer to the seller due to defects, dissatisfaction, or other reasons, impacting the seller's revenue and inventory levels.

Perpetual Inventory System

An inventory management system that records the sale or purchase of inventory immediately through the use of computerized point-of-sale systems and enterprise asset management software.