Difference between revisions of "Liquidation"
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According to [[College Accounting: A Practical Approach by Slater (13th edition)]], | According to [[College Accounting: A Practical Approach by Slater (13th edition)]], | ||
:[[Liquidation]]. Occurs when a business is terminated, the assets are sold, and liabilities and partners are paid off. | :[[Liquidation]]. Occurs when a business is terminated, the assets are sold, and liabilities and partners are paid off. | ||
| + | According to [[Fundamentals of Financial Management by Eugene F. Brigham and Joel F. Houston (15th edition)]], | ||
| + | :[[Liquidation]]. Occurs when the assets of a division are sold off piecemeal, rather than as an operating entity. | ||
==Related concepts== | ==Related concepts== | ||
Revision as of 02:29, 2 November 2019
Liquidation is the process that occurs when a business is terminated, the assets are sold, and liabilities and partners are paid off.
Definitions
According to College Accounting: A Practical Approach by Slater (13th edition),
- Liquidation. Occurs when a business is terminated, the assets are sold, and liabilities and partners are paid off.
According to Fundamentals of Financial Management by Eugene F. Brigham and Joel F. Houston (15th edition),
- Liquidation. Occurs when the assets of a division are sold off piecemeal, rather than as an operating entity.
Related concepts
- Accounting (alternatively known as accountancy) is management of financial data, information, and knowledge about financial transactions of legal entities. Accountancy tends to include bookkeeping and, depending on a particilar enterprise, may also include quatitative analysis of financial data in the bookkeeping system and/or business intelligence.
