The process of going out of business is called:

Name: The process of going out of business is called:
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Liquidation is the process of selling off assets and paying off debts in order to close down a business. Bankruptcy is also a possibility during this process, but it is not the overall term for going out of business. The time-period concept and revenue principle are accounting concepts unrelated to the process of going out of business.

The Process of Going Out of Business Is Called