JAMB Commerce 2018 Objective — Question 7

Question 7 of 40 from the Joint Admissions and Matriculation Board (JAMB) Commerce 2018 Objective paper, with the correct answer and a full explanation.

When it becomes necessary to liquidate a company, the first step to be taken is the appointment of a

A. receiver
B. an auditor
C. an accountant
D. a liquidatorCorrect

Explanation

If it has been concluded to liquidate a firm, the first step is to appoint a liquidator who will oversee winding up the company.

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