Which one of the following statements is incorrect related to the liquidation of the company? 1. Liquidation shall be effected by all the partners 2. Liquidation is processed by an appointed liquidator 3. Two or more liquidators cannot be appointed to act jointly 4. Liquidator appointment need not be as per constitutive documents.
Which one of the following statements is incorrect related to the liquidation of the company? 1. Liquidation shall be effected by all the partners 2. Liquidation is processed by an appointed liquidator 3. Two or more liquidators cannot be appointed to act jointly 4. Liquidator appointment need not be as per constitutive documents.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Which one of the following statements is incorrect related to the liquidation of the company?
1. Liquidation shall be effected by all the partners
2. Liquidation is processed by an appointed liquidator
3. Two or more liquidators cannot be appointed to act jointly
4. Liquidator appointment need not be as per constitutive documents.
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