The etymology of X is quite intriguing.
In italian banca rotta refers to a "broken bench". In earlier times, moneylenders and financial advisors used to carry out their business through "benches" which was their office. People came to these benches to seek advice and left after paying a fee.
However, if a moneylender failed to perform his duties, as a symbol of protest, the people would "break" or "rot" his bench.
This led to the terming of X, which literally means possessing a lack of capital to indemnify pending debits
X, which is an extremely common phenomenon which occurs in 1 out of every 4000 companies in a normal fiscal year?
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