In Many States,dissolution That Is Nonjudicial May Be Brought About

question 45

Multiple Choice

In many states,dissolution that is nonjudicial may be brought about when:

• A) all the shareholders agree to dissolve,even without action by the board.
• B) the board of directors agrees to dissolve.
• C) the creditors petition the court.
• D) the business of the corporation becomes obsolete.

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Definitions:

Consumer Surplus

The disparity between consumers' theoretical expenditure on a good or service and their practical expenditure.

Total Surplus

The sum of consumer surplus and producer surplus, indicating the total benefits received by both producers and consumers in a market.

Equilibrium Price

The trading value at which the supply of goods meets the consumers' demand for these goods.

Total Surplus

The sum of consumer and producer surplus, measuring the total net benefit to society from trading a good or service.