Bankruptcy and liquidation are methods of closing a company. However, they differ concerning the relationship between assets and liabilities, the reasons for initiating the procedure, the goal, legal consequences, the person/body initiating the procedure, the persons conducting the procedure, other bodies participating in the procedure, the rights of the company's organs during the implementation of the procedure, priority of the creditor in the procedure and responsibility of the members of the company for the remaining debt. For the purpose of writing this final theises, an empirical study was conducted, aiming to examine the familiarity of vocational students with the methods of closing companies. A total of 63 University Departments of Professional Studies students of the University of Split participated in the research. The research was anonymous and was conducted through an online questionnaire. The results of the conducted research showed that students of professional studies are insufficiently familiar with bankruptcy and liquidation as methods of closing companies, and additional efforts should be made so that their knowledge upon acquiring the title of expert specialist or expert specialist in economics is in line with the study curriculum.