Carrying on business. It shall be lawful for assignee in his [her] discretion to carry on in the name of debtor or otherwise the business carried on by him [her] as previously described, with a view to the gradual winding up of the business, instead of immediately selling the business. For the purpose of carrying on and winding up, the assignee may employ or authorize employment of debtor as manager of the business, and any other persons to assist as clerks, servants, or otherwise, and pay out of trust moneys to debtor and to any other person who may be employed such salary, or wages, or remuneration for services rendered, as assignee shall think fit. For the purpose of carrying on the business it shall be lawful for assignee from time to time, at the expense of the trust estate, to procure by purchase, hire, or otherwise, stock-in-trade, fixtures, materials, chattels, and articles as they or —he shall think fit. During the carrying on of business assignee shall make or cause to be made, in proper books, full and true entries of all moneys received or expended by him [her] in the course of business, and of all transactions and matters connected with the business, and shall pay all rents, rates, taxes, and outgoings (including expenses of insurance and repairs) payable in respect of the business premises, and all losses, expenses, and sums of money to be incurred or become payable in respect of the business, out of any part of the trust moneys which may be available for those purposes, and shall apply the net moneys which shall be realized by carrying on of the business in like manner as provided in reference to trust moneys the trusts of which are previously declared.