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JAMB Commerce 1995 Question 10

Question 10

Business Units

In the case of a voluntary liquidation of a business, the receiver is appointed by the

  1. A.creditors
  2. B.debtors
  3. C.directors
  4. D.shareholders.
Show the answer and explanation

Answer: A (creditors)

Explanation

A receiver acts for the creditors to recover what is owed to them, so the creditors appoint him.