What are the possible actions when a business becomes insolvent? One of them is fresh start accounting. Please explain what is new start accounting and what are their criteria? Is it possible for Garuda Indonesia Airlines to do a fresh start accounting according to

Principles of Accounting Volume 1
19th Edition
ISBN:9781947172685
Author:OpenStax
Publisher:OpenStax
Chapter3: Analyzing And Recording Transactions
Section: Chapter Questions
Problem 10MC: Which of the following is the principle that a business must report any business activities that...
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What are the possible actions when a business becomes insolvent? One of them is fresh start accounting. Please explain what is new start accounting and what are their criteria? Is it possible for Garuda Indonesia Airlines to do a fresh start accounting according to PSAK? 

please answer clearly and concisely, and be accompanied by a reference link, thank you.

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