Sports GK Questions and Answers 2024 (Latest Updated)

Awards & Honours GK Questions 2024 (Latest Updated)

Question

A director of a limited company may not be liable for wrongful trading if he or she

A took every step to minimise the potential loss to creditors
B increased the valuation of its inventories to cover any potential shortfall
C introduced into the balance sheet an asset based on a valuation of its brands sufficient to meet any shortfall
D brought in some expected sales from next year into the current year

Answer & Explanation

Answer: took every step to minimise the potential loss to creditors

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