How Does Liquidation Differ from Bankruptcy

question 30

Multiple Choice

How does liquidation differ from bankruptcy?

• A)They are the same thing.
• B)Companies are liquidated; individuals are made bankrupt.
• C)Liquidation is not a formal legal process whereas bankruptcy is.
• D)All businesses can be liquidated but not all business can be made bankrupt.

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Definitions:

Aggressive Behavior

Involves actions intended to cause harm or assert dominance over others.

Catharsis

The process of releasing, and thereby providing relief from, strong or repressed emotions.

Interpersonal Relationships

The association or connection between two or more people that may range from fleeting to enduring.

Instinctual Approach

Relating to or denoting behavior that is innate rather than learned.