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Definition

Liquidation

A grand strategy that involves the sale of the assets of the business for their salvage value.

Liquidation of a business involves selling the assets of the firm, paying liabilities, and distributing any remaining assets. Liquidation any result forms the sale of the business by mutual agreement of the partners, from the death of a partner, or from bankruptcy. Partnership liquidation ends both the legal and economic life of the entity.

Webster Dictionary Meaning

1. Liquidation
- The act or process of liquidating; the state of being liquidated.
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