Is it true that a chronic progressive inflammation and eventual irreversible degeneration of the liver tissue characterized by nodules and scarring called ascites?

No, that description is not accurate. Chronic progressive inflammation and irreversible degeneration of liver tissue characterized by nodules and scarring is known as cirrhosis. Ascites, on the other hand, refers to the accumulation of fluid in the abdominal cavity, which can occur as a complication of liver disease, including cirrhosis.