1.______________ means that the company is unable to meet current debt when due. 2. If a company’s liabilities exceed the fair market value of its assets, it is_____________. 3. In the case of a(n)...

1.______________ means that the company is unable to meet current debt when due.

2. If a company’s liabilities exceed the fair market value of its assets, it is_____________.

3. In the case of a(n) _________________, creditors receive the balances owed them over an extended time period.

4. A voluntary reduction of the amount the debtor owes the creditor is referred to as a(n)_______________ .