In Which of the Following Situations May a Nonjudicial Dissolution

question 9

Multiple Choice

In which of the following situations may a nonjudicial dissolution of a corporation occur?

• A) By voluntary action on the part of all of the holders of outstanding stock.
• B) By shareholders of a close corporation who elect in the articles of incorporation to have the power to dissolve the corporation.
• C) By expiration of the time period provided in the articles of incorporation.
• D) A nonjudicial dissolution may occur in all of the above ways.
• E) A corporation may only be dissolved by judicial action.

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Definitions:

Self-Doubt

A feeling of uncertainty about one's abilities, decisions, or personal qualities.

General Adaptation Syndrome

A three-stage process that describes the physiological changes the body goes through under stress: alarm, resistance, and exhaustion.

Resistance

The act of opposing or striving against something that might prevent reaching a goal, often encountered in the context of psychotherapy.

Gradually

Occurring in small steps or increments over a period of time; slowly developing.