What action would not alleviate cash flow issues for a company struggling to make payroll?

Delaying accounts receivables would not alleviate cash flow issues for a company struggling to make payroll because this action actually prolongs the time it takes for the company to receive cash inflows. By delaying the payment collection from customers, the company is effectively increasing its cash outflows while its cash inflows remain stagnant. This can exacerbate cash flow problems because the company would be waiting longer to bring in the revenue it needs to meet its immediate obligations, such as payroll.

In contrast, reducing inventory levels helps free up cash that is tied in unsold goods, which can be used to pay employees. Obtaining a short-term loan provides immediate cash influx to help cover urgent expenses, including payroll. Extending payment terms with suppliers allows a company more time to make its payments, which can provide temporary relief and ensure that cash is available for necessary expenditures like payroll. Thus, delaying accounts receivables would not help alleviate the financial stress in this scenario.