Answer: Sale leaseback

**Explanation:** - **Sale leaseback** is a type of balance sheet restructuring where a company sells an asset and then leases it back from the buyer. This transaction improves the company's liquidity by converting a fixed asset into cash while still maintaining operational use of the asset. - **Franchising** and **outsourcing** are operational restructuring activities, not balance sheet restructuring. Franchising involves licensing business models, while outsourcing involves contracting out business functions to third parties. Balance sheet restructuring focuses on changing the composition of assets and liabilities to improve financial health, whereas sale leaseback directly affects both the asset side (reducing fixed assets) and liability side (creating lease obligations).

Author: LeetQuiz Editorial Team