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What is a declaration of solvency in voluntary winding up?
  • a)
    A statement of company's inability to pay debts.
  • b)
    A notice of winding up to creditors.
  • c)
    A statement of company's assets and liabilities.
  • d)
    A resolution passed by creditors.
Correct answer is option 'C'. Can you explain this answer?
Most Upvoted Answer
What is a declaration of solvency in voluntary winding up?a)A statemen...
A declaration of solvency is a statement made by the directors that the company has no debts or will be able to pay its debts in full within a specified period. It includes a statement of the company's assets and liabilities.
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What is a declaration of solvency in voluntary winding up?a)A statement of company's inability to pay debts.b)A notice of winding up to creditors.c)A statement of company's assets and liabilities.d)A resolution passed by creditors.Correct answer is option 'C'. Can you explain this answer?
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