_______ is the first state in which assists realised liabilities are paid off and surplus is distributed.

Question

Quizplus · Accepted Answer

Winding up is the process where a company's outstanding matters are settled, its assets are liquidated, and the proceeds are used to pay off debts. Any surplus after paying off liabilities is then distributed among the shareholders. Dissolution is the final step in the process, and acquisitions are not related to this context.

_______ Is the First State in Which Assists Realised Liabilities