Match the terms with the definitions.
-A process of selling the assets, paying the liabilities, and distributing the remaining cash or other assets to the partners.

Question

Quizplus · Accepted Answer

Liquidation is the process of selling assets, paying liabilities, and distributing remaining assets to partners. A dissolution refers to the end of a partnership, but liquidation specifically describes the process of winding down the business. Partnership refers to a business owned by two or more individuals, and a partnership agreement is a document that outlines the terms and conditions of that partnership.

Match the Terms with the Definitions