Edwards Farm Products was unable to meet its financial obligations and was forced into using legal proceedings to restructure itself so that it could continue as a viable business.The process this firm underwent is known as a:
A)merger.
B)repurchase program.
C)liquidation.
D)reorganization.
E)divestiture.

Question

Quizplus · Accepted Answer

The process Edwards Farm Products underwent is known as reorganization, which involves restructuring the company's financial and operational procedures to enable it to recover and continue operating as a viable business. This is commonly done through legal proceedings, as was the case with Edwards Farm Products.

Edwards Farm Products Was Unable to Meet Its Financial Obligations