Select the most appropriate option to fill in the blank.
Hundreds of firms went bankrupt during the _________.
Show answer & explanation
Correct answer: D
Explanation
The correct answer is option 4 i.e. recession.
- The correct word to fill is "recession," as it refers to a period of economic decline or downturn, during which many firms may struggle financially and potentially go bankrupt.
The alternative terms are unsuitable:
- "recission" is likely a typographical error for "rescission," which denotes the annulment of a contract;
- "revision" pertains to the examination and modification of documents or plans; and
- "remission" commonly signifies a reduction in intensity, usually in a medical context, and does not pertain to economic circumstances.