Asked by
Tabassum Pasha
on Nov 02, 2024
Verified
Under the Corporations Act, tasks of a liquidator include which of the following?
I. Determine the creditors and order of priority of payment.
II. Bring about the dissolution of the company.
III. Take possession of the company's assets.
A) I, II and III
B) I and II only
C) I and III only
D) II and III only
Liquidator
An external administrator appointed to dissolve the company.
Creditors
Individuals or entities that a company owes money to, typically as a result of receiving goods or services.
Dissolution
The process of legally dissolving a company, ending its existence by distributing its assets to creditors and shareholders.
- Acknowledge the accountabilities and roles of key players in the dissolution process, encompassing liquidators, administrators, and receivers.
Verified Answer
JG
Learning Objectives
- Acknowledge the accountabilities and roles of key players in the dissolution process, encompassing liquidators, administrators, and receivers.