Which of the following is a voluntary liquidation proceeding that passes the liquidation of the firm's assets to a third party that is designated as the assignee or trustee?

Question

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The voluntary liquidation proceeding that passes the liquidation of the firm's assets to a third party that is designated as the assignee or trustee is known as an assignment. In an assignment, the assignee takes over the business affairs of the firm and liquidates its assets, distributes the proceeds to the creditors and closes the company.

Which of the Following Is a Voluntary Liquidation Proceeding That