Multiple Choice
The Official Receiver of a bankruptcy district is not responsible for:
A) managing the assets of insolvent businesses.
B) issuing bankruptcy notices.
C) accepting debtor's petitions.
D) collecting and liquidating assets.
Correct Answer:
Verified
Correct Answer:
Verified
Q11: A 'bankruptcy notice' is:<br>A)an order of the
Q12: A person who is unable to pay
Q13: When a bankrupt's assets are distributed amongst
Q14: On being made bankrupt, all the bankrupt
Q15: When a business goes into receivership:<br>A)all of
Q17: The liability of incoming partners for partnership
Q18: Another name for liquidation is:<br>A)receivership.<br>B)bankruptcy.<br>C)deregistration.<br>D)winding up.
Q19: What is the role of the trustee
Q20: A company can be wound up voluntarily
Q21: It is simpler to sell a business