Question

Question:
Creditors foregoing their claims in whole
or in part is
(A)
Compromise
(B)
Subdivision
(C)
Consolidation
w
(D)
Arrangement​

Answer 1

Creditors foregoing their claims in whole  or in part is (C)  Consolidation.

• In the field of accounting, consolidation can be described as combining of assets or other financial items.
• The consolidation of financial statements can be done n a whole or in a part depending on the creditor.
• In consolidated accounting, the information gained from a parent company as well as its subsidiaries are treated as a single entity.