In Which of the Following Situations May a Nonjudicial Dissolution

question 75

Multiple Choice

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

• A) By shareholders of a close corporation who elect in the articles of incorporation to have the power to dissolve the corporation.
• B) By expiration of the time period provided in the articles of incorporation.
• C) By voluntary action on the part of all of the holders of outstanding stock.
• 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:

Combinations

The act of combining or joining two or more elements to form a new whole.

Organizational Effectiveness

The measure of an organization's efficiency in achieving its goals and objectives through the optimal use of resources, processes, and people.

Profitability

The degree to which a business or activity yields financial gain or profit.

Bottom Line

The fundamental and most important outcome of a business or an endeavor, often referring to financial profitability.