LIQUIDATION

Liquidation

In law, liquidation is the process by which a company is brought to an end, and the assets and property of the company redistributed. Liquidation is also sometimes referred to as winding-up or dissolution, although dissolution technically refers to the last stage of liquidation. The process of liquidation also arises when customs, an authority or agency in a country responsible for collecting and safeguarding customs duties, determines the final computation or ascertainment of the duties or drawback accruing on an entry.

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liquidation

Noun

  1. The act of exchange of an asset of lesser liquidity with a more liquid one, such as cash.
  2. The selling of the assets of a business as part of the process of dissolving the business.
    The store is having a liquidation sale, everything must go as they go out of business.


The above text is a snippet from Wiktionary: liquidation
and as such is available under the Creative Commons Attribution/Share-Alike License.

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