When a Corporation Liquidates, It Performs Three Activities

question 19

Multiple Choice

When a corporation liquidates, it performs three activities. What is the general order of these activities in a plan of liquidation?

• A)pay debts, distribute property to shareholders, and wind up its affairs
• B)wind up its affairs, distribute property to shareholders, pay debts
• C)pay debts, wind up its affairs, and distribute property to shareholders
• D)wind up its affairs, pay debts, and distribute property to shareholders

---

Definitions:

Inductive Questioning

A questioning strategy that gathers detailed information to form general principles or conclusions, emphasizing observation and experience.

Dysfunctional Communication

Ineffective exchange of information that often results in misunderstanding or conflict.

Aggressive Questioning

The act of asking questions in a forceful or confrontational manner, often to intimidate or coerce.

Challenging Beliefs

Refers to the process of questioning and evaluating deeply held convictions and assumptions, often in a therapeutic or coaching context to promote personal growth and change.