Accountancy, asked by rupali3156, 11 months ago

distinguished between liquidation and insolvency

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Answered by manishthakur100

1

Answer:

Liquidation : When a firm is able to pay its debts and liabilities. In other words if a company is able to pay its Expenses.

Insolvency : When a firm is not able to pay its debts and liabilities. In other words if a company is not able to pay its Expenses.

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