Question

Q. 5. Write Short Notes on:
1) Deficiency Account
2) Liquidators Remuneration​

Answer 1

Notes :-

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●Deficiency Account =>

An account summarizing the financial condition of an individual or company in danger of bankruptcy. This is called Deficiency Account.

●Liquidators Remumeration=>

Assets realized X Remuneration Percent/100. 2. Percentage On Amount Distributed To Unsecured Creditors. Sometimes, the liquidator also receives commission on the amount distributed to unsecured creditors.

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