The term liquidate refers to pay off a debt, a claim or an obligation or to settle the affairs by determining liabilities and applying assets to their discharge. What is also converted by the term?
Correct answer: C. Both of them
- A. To convert assets into cash
- B. Abolish
- C. Both of them
- D. All of them
Explanation
To liquidate may mean converting assets into cash and using them to settle debts, and it can also mean abolishing or eliminating something. Therefore both listed meanings apply.
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