The Difference Between Liquidation and Reorganization Is That A

The difference between liquidation and reorganization is that a:

A) reorganization terminates all operations of the firm while a liquidation only terminates non-profitable operations.
B) liquidation terminates all operations immediately while a reorganization terminates operations over two,or more,years.
C) liquidation terminates all operations and a reorganization maintains the option of the firm as a going concern.
D) liquidation deals with net working capital while a reorganization deals with long-term liabilities.
E) a liquidation must occur outside of bankruptcy while a reorganization involves the bankruptcy process.