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What is the difference between liquidation and dissolution in the context of partnership?
liquidation of partnership is when partnership is broken due to the insuficient fund problem a partnership may encounter, while dissolution of partnership is when partnership is resolved according to the decision taken by the partners
Why are the assets of a business equal to the capital plus liabilities?
Basic accounting equation = assets = liabilities + capitalit is so because capital as well as other liabilities have to be paid by the business at the dissolution time of business and at dissolution time or liquidation time business must have assets equal to liabilities plus owner's equity to pay all liabilities of business without going insolvent otherwise business will become insolvant and somebody will not get all it's liabilities completely cleared at the time of liquidation of business.
What do you mean by liquidation of a company?
Liquidation of a company refers to the process of winding up its operations and distributing its assets to creditors and shareholders. This typically occurs when a company is unable to meet its financial obligations, leading to either voluntary or involuntary dissolution. During liquidation, the company’s assets are sold off, and the proceeds are used to pay off debts, with any remaining funds distributed to shareholders. Ultimately, the company is removed from the register of companies and ceases to exist as a legal entity.
Is dept an asset liability or an expense?
Debt is a liability for business as it is taken from third parties for running business and refundable to third parties on the event of liquidation or maturity date whichever come first.
What is a physical change that starts with the letter l?
liquidation
When was Liquidation Channel created?
Liquidation Channel was created in 2008.
What is differences between divestiture and liquidation?
Divestiture is silent. Liquidation is public.
What resource provider receives first priority when resources are divided as part of a business's liquidation?
creditors
When was Motors Liquidation Company created?
Motors Liquidation Company was created in 1908.
You want answers related to the liquidation of partnership?
i want some examples of liquidation expenses ....
How do you use liquidation in a sentence?
She prepared herself for the complete liquidation of the contents of her stuffed locker.
What happened to Laymen Life Insurance Company Anderson Indiana?
Laymen Life Insurance Company, based in Anderson, Indiana, faced financial difficulties leading to its liquidation in the early 2000s. The company struggled with undercapitalization and regulatory compliance issues, ultimately resulting in its closure. The Indiana Department of Insurance took steps to protect policyholders and manage the company's dissolution, ensuring claims were processed as part of the liquidation process.
