单词 | balance sheet test |
释义 | balance sheet test balance sheet test the process of ascertaining, from a COMPANY's BALANCE SHEET, what would be available to members of the compa- ny were it to be immediately wound up, with the assets being sold and the liabilities discharged. If, on examination, the company is found to be insolvent (i.e. liabilities exceed its assets), it is an offence38 bankruptcy for the directors to permit it to continue trading. Any debts incurred by the company by continued trading after the directors are aware that the company is insolvent becomes the personal liability of the directors. |
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