Examlex
A hybrid system is a modification of the multiple-channel system in which members of the channel system perform complementary functions.
Declaration of Solvency
A formal statement made by the directors of a company declaring that the company can meet its debts as they fall due.
Members' Voluntary Winding Up
is a process initiated by the shareholders of a solvent company to voluntarily dissolve the entity and distribute its assets.
Insolvent Company
A company that cannot pay its debts as they come due or has liabilities exceeding its assets.
External Auditor
A professional firm or individual outside of an organization hired to examine its financial records and attest to the accuracy of its financial statements.
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