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.
Report an error
The more specific you are, the faster it gets fixed. A source beats an opinion.
Prefer email? [email protected]
About Microeconomics
Individual consumers, firms and markets are examined through demand and supply, elasticity, consumer choice, production, costs, revenue and the determination of prices and output. The topic also covers market structures such as perfect competition, monopoly and oligopoly, plus market failure, externalities and the distinction between microeconomic decisions and economy-wide outcomes.
Practise Microeconomics
1,742 free Microeconomics MCQs from Economics, each with the correct answer and an explanation. Unlimited attempts, no account needed.
Discussion
Stuck on an option, or know a faster way to get there? Ask or explain it here.
No comments yet. Be the first to explain this one.
Exams that ask Economics questions like this
Economics is on 3 papers prepared for on TestUstad, and all of them draw the same bank, so this question is worth knowing for every one of them.
More Microeconomics questions
What is called the market in which forces of demand and supply are not in the control of government ?
Monoculture is ?
How is known the process in which an investment company continually offers new shares and buys existing shares back on demand and uses its capital to invest in diversified securities of other companies ?
Unlike a black market, what is called a system of secretly selling or trading commodities which is not necessarily illegal ?
There are certain products which are sold without brand name or trademark What these products are called ?
Term the interchange of commodities across political frontiers without restriction such as tariffs, quotas, or foreign exchange controls ?