JAMB Commerce 1997 Question 11

Question 11

Business Units

When it becomes necessary to liquidate a company, the first step to be taken is the appointment of

  1. A.a receiver
  2. B.an auditor
  3. C.an accountant
  4. D.a liquidator.
Show the answer and explanation

Answer: D (a liquidator.)

Explanation

A liquidator is appointed to sell the company's assets, pay its debts and wind it up.