What is financial reorganisation? explain its impact on balance sheet of the firm?
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Financial reorganization is the an attempt to renew the system of assets and liabilities in order to save the firm from bankruptcy. During this process, arrangements are made to reissue the system of tax payment.
In this process, the balance sheet of the firm is rearranged as the system of assets and liabilities is renewed. New forms and deadlines of the payments are made. Hence, the balance sheet is completely changed.
In this process, the balance sheet of the firm is rearranged as the system of assets and liabilities is renewed. New forms and deadlines of the payments are made. Hence, the balance sheet is completely changed.
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Explanation:
During this process, arrangements are made to reissue the system of tax payment.
- In this process, the balance sheet of the firm is rearranged as the system of assets and liabilities is renewed.
- New forms and deadlines of the payments are made. Hence, the balance sheet is completely changed.
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