If a Firm Faces Short-Term Financing Difficulties (As Happened in the Liquidity

If a firm faces short-term financing difficulties (as happened in the liquidity crisis of 2008-2009) and forecasts a reduction of its sales revenue due to global recession,which of the four possible course of action described below would it be best advised to implement:

A) Liquidate as much of its inventory as possible and sell its receivables so as to pay as much as possible of its short-term debt.
B) Use its cash on hand to first settle its short-term debt,negotiate longer credit terms with suppliers,and analyze receivables to stop selling to slow-paying customers.
C) Issue long-term bonds and invest in more capacity,more R&D,more product launches and higher levels of inventory to better serve customers.
D) Reduce simultaneously and within market constraints its inventory level,credit terms to customers,and cash in a reasoned way (leading to reduced activity and thus reduced payables) and weed receivables from slow payers.