Question

Infographics about Bankruptcy of Business by local investors

Answer 1

Bankruptcy is the voluntary surrender of business by owner. In bankruptcy, owner makes an official declaration in Court that he is unable to pay his debts. In this situation, the responsibility of liquidation of assets of business lies with the Court. The Court also has the responsibility of distributing the proceeds collected from the liquidation of assets to creditors.

Prepare Infographics on Bankruptcy of Business In Word.

1. Write down the meaning of bankruptcy of the business.

2. Clearly state, the steps in the bankruptcy process according to law like filing of a petition in the Court, appointment of Commitee and so on.