Which of the Following Statements About Corporate Dissolution Is INCORRECT

question 58

Multiple Choice

Which of the following statements about corporate dissolution is INCORRECT?

• A) A secretary of state may commence a proceeding to dissolve a corporation for failure to pay taxes.
• B) A shareholder may petition a court to dissolve a "deadlocked" corporation.
• C) A corporation will be dissolved if all shareholders vote to do so.
• D) A corporation cannot be forced into dissolution by a creditor.

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Definitions:

Allocative Efficiency

Occurs when resources are distributed in a way that maximizes the net benefit to society.

Least Costly Way

Refers to a method or strategy that aims to achieve a particular goal or produce a specific outcome with the minimum possible expense or use of resources.

Inferior Good

A type of good for which demand decreases as the income of consumers increases, inversely related to income elasticity.