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WAEC Commerce 1991 (August) Question 10

Question 10

Business Units

In winding-up a company, the assets of the company are vested in the hands of the

  1. A.receiver
  2. B.liquidator
  3. C.registrar of companies
  4. D.directors of companies
  5. E.the government
Show the answer and explanation

Answer: B (liquidator)

Explanation

The liquidator takes charge of the assets, sells them and pays the creditors.