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JAMB Commerce 2001 Question 8

Question 8

Business Units

At the collapse of a business enterprise, the person appointed to dispose of the assets is called

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

Answer: C (a liquidator)

Explanation

A liquidator winds up the business, sells its assets and pays its creditors.