Examlex
According to our textbook, all of the following statements are true EXCEPT:
Voluntary Action
An act undertaken by choice or free will, often implying a decision made without external coercion.
Board of Directors
A group of individuals elected by shareholders to oversee and make major decisions for a corporation.
Asset Sale
The transaction in which the assets of a company, instead of its stock, are sold to a buyer, transferring ownership of the assets.
Shareholder Approval
The authorization required from a corporation's shareholders to approve significant company actions, such as mergers or sale of substantial assets.
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