7. What purpose does the use of schedules serve?
8. Is the profit and loss the proper place to show all adjustments of surplus?
Chapter XXVIII
1. Under what conditions may a corporation liquidate? Distinguish between actual and legal insolvency.
2. Name and discuss seven causes or conditions resulting in insolvency.
3. Name the methods of liquidation.
4. What are acts of bankruptcy? Discuss.
5. Outline the process of liquidation under bankruptcy.
6. Outline the process of liquidation under voluntary dissolution.
7. Outline the process of liquidation under receivership.