Asked by Pradeep Patil on May 16, 2024
Verified
When a company can no longer pay its creditors,the company may file for bankruptcy.
File For Bankruptcy
The legal process by which individuals or businesses declare their inability to pay their debts and seek relief from some or all of them under the jurisdiction of a bankruptcy court.
- Comprehend how principles of strategic management influence the formation of organizational goals and the breadth of competitive arenas.
Verified Answer
SA
Salvador Ayala-MendozaMay 19, 2024
Final Answer :
True
Explanation :
When a company is unable to pay its debts, it may file for bankruptcy as a legal option. This allows the company to reorganize its finances and possibly repay its creditors, or liquidate its assets to repay them.
Learning Objectives
- Comprehend how principles of strategic management influence the formation of organizational goals and the breadth of competitive arenas.
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