In ________, an assignment may be made by the creditors to a third party who then has the power to liquidate the firm's assets.
A) a voluntary private liquidation
B) an involuntary private liquidation
C) an involuntary liquidation under Chapter Seven of the Bankruptcy Reform Act of 1978
D) a voluntary liquidation under Chapter Seven of the Bankruptcy Reform Act of 1978

Question

Quizplus · Accepted Answer

In a voluntary private liquidation, the creditors may assign the liquidation to a third party who then has the power to liquidate the firm's assets.

In ________, an Assignment May Be Made by the Creditors