In the Case of a Company Being Wound Up by the Court

question 47

True/False

In the case of a company being wound up by the court, the liquidator may carry on the business of the company so far as is necessary for its beneficial disposal or winding up.

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Definitions:

Ordinary Simple Interest

Interest calculated on the principal amount of a loan or investment, based on a simple calculation and not compounded.

360-Day Year

A simplified accounting method that assumes there are 360 days in a year, used for calculating interest and other financial metrics.

Principal

The original sum of money borrowed in a loan, or the initial amount of investment, excluding interest or profit.

Ordinary Simple Interest

Interest calculated on the principal amount only, without compounding, over a specific period.