A liquidator's fee is to be charged to the?

Assessment: JAMB UTME - Commerce - 2006 Subject: Commerce

Question 1 Report

A liquidator's fee is to be charged to the?
Answer Details
A liquidator's fee is charged to the realization account. When a company is being liquidated, a liquidator is appointed to sell off the assets of the company and distribute the proceeds to creditors and shareholders. The liquidator's fee is a cost incurred in the process of liquidation and is usually charged to the realization account. The realization account is a temporary account opened during the liquidation process to record the sale of assets and payment of liabilities.
Read lesson note on Legal Aspects Of Business (JAMB)
View Answer

Related Questions

1

In the communication process. Y represents
2

What is the capital employed?
3

The role of a wholesaler in the channel of distribution is to?
4

Foreign trade also involves?
5

The business environment that takes into cognizance the age distribution, ethnic mix and educational level of the consumer is?
6

X represents
7

The total sum for financing short term projects is
8

In international trade, exchanging goods for other goods and services purchased instead of paying in foreign currency is known as?

Download The App On Google Playstore

Everything you need to excel in your exams

Green Bridge CBT Mobile App
Personalized AI Learning Chat Assistant
200,000+ Exam Questions Across IGCSE, JAMB, WAEC & NECO
Over 3,900 Lesson Notes
Offline Support - Learn Anytime, Anywhere
Green Bridge Timetable
Literature Summaries & Potential Questions
Track Your Performance & Progress
In-depth Explanations for Comprehensive Learning