Winding up involves all but which one of the following?
A) Paying creditors.
B) Collecting debts owed to the partnership.
C) Taking orders for business.
D) Selling assets for cash.

Question

Quizplus · Accepted Answer

Winding up a business involves concluding its affairs by paying off creditors, collecting debts owed to the business, and selling off assets for cash. Taking orders for new business is not part of the winding-up process, as the purpose is to close down the business, not continue its operations.

Winding Up Involves All but Which One of the Following