closing down or finishing of company is called....
Answers
Explanation:
Federal, State, Local Business Closing Requirements
It's time to close the doors. For whatever reason, you have decided to end your business. ... This business closing type is not bankruptcy, but it's called "dissolution," a closing down of the business as a legal entity.
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Answer:
Closing down or finishing of company is called liquidation.
Explanation:
Liquidation is a noun. It is a situation where a company goes out of business and sells everything it owns to pay off debts.
Liquidation in finance and economics is the process by which a company is wound up and assets are distributed to claimants. This is an event that usually happens when a company is insolvent, meaning it cannot pay its obligations on time. The remaining assets are used to pay creditors and shareholders at the end of the company's operations, based on the priority of their claims. Full shareholders are subject to liquidation.The concept of liquidation can also be used to sell poorly performing goods at a price below the company's costs or at a price below the company's desire.Liquidation in finance and economics means the liquidation of a company and the distribution of its assets to creditors.A bankrupt company ceases to exist at the end of the liquidation process and is deleted from the register.
Liquidation is usually done in a Chapter 7 bankruptcy.Income is distributed to applicants in order of priority. Creditors have priority over shareholders.Liquidation can also refer to selling off inventory, usually at deep discounts.
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