Hi all, I understand there is difference of rules and regulations governing Strike off and liquidation of Companies. But what are the accounting treatment in it. In strike off do we need to repay all our liabilities and sell off assets if yes then the same applies for winding up as well rite.
Please clarify if my understanding is correct or not.
strike off means removal of name from registrar of companies since it has become defunct
liquidation is the process by which assets are realised and liablilities are settled
winding up is putting an end to the legal charter for which liquidation is the process
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