A Voluntary Winding Up Commences When

question 13

Multiple Choice

A voluntary winding up commences when:

• A) the members of the company pass a special resolution to wind up.
• B) an application is filed with the court by the company's external auditor.
• C) the company is unable to pay its debts.
• D) ASIC applies to the court for the winding up.

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Definitions:

Deep Water

Areas of the ocean or sea that are significantly far from land and shallow waters, often characterized by different ecological and physical conditions.

Deep Water Conditions

Environmental conditions found in water bodies at significant depths, where sunlight penetration is minimal and pressures are high.

Resistant to Erosion

A property of materials that are able to withstand the forces of erosion, such as wind, water, and ice.

Evaporated

The process by which water changes from a liquid to a vapor or gas due to heat without reaching boiling point.