The Difference Between Liquidation and Reorganization Is

The difference between liquidation and reorganization is:

A) reorganization terminates all operations of the firm and liquidation only terminates non-profitable operations.
B) liquidation terminates only profitable operations and reorganization terminates only non-profitable operations.
C) liquidation terminates all operations and reorganization maintains the option of the firm as a going concern.
D) liquidation only deals with current assets and reorganization only consolidates debt.
E) None of the above.