The job of realizing assets and
payment to liabilities was perform by a
person called as
Answers
Answer:
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Answer:
Explanation:
Liquidator:
A liquidator is a person or an organization that sells something, typically assets. Assets are sold on the open market for cash or other equivalents when they are liquidated. The liquidator has the legal authority to represent the firm in a number of positions.
An officer particularly appointed to wind up a company's affairs when the company is closing, usually when the corporation declares bankruptcy, is referred to as a liquidator. The liquidator sells a company's assets, and the proceeds are used to pay off the company's debts.
Typically, the court, unsecured creditors, or the company's shareholders designate liquidators. They are frequently engaged when a business fails. The assets of the individual or entity will be transferred to the liquidator once they are appointed. These are then combined and sold one at a time. The remaining debt owed to unsecured creditors is then settled using money obtained from the sale's earnings.
The job of realizing assets and payment to liabilities was performed by a person called as Liquidator.
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