Which of the Following Is True Regarding Approval a Corporation

question 52

Multiple Choice

Which of the following is true regarding approval a corporation desiring to sell a majority of its assets must obtain?

• A) A corporation desiring to sell a majority of its assets must obtain approval from officers, its board of directors, and shareholders.
• B) A corporation desiring to sell a majority of its assets must obtain approval from officers and its board of directors, but not from shareholders.
• C) A corporation desiring to sell a majority of its assets must obtain approval from its board of directors and shareholders, but not from officers.
• D) A corporation desiring to sell a majority of its assets must obtain approval from shareholders, but not from officers or its board of directors.
• E) A corporation desiring to sell a majority of its assets must obtain approval from its board of directors, but not from shareholders or officers.

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Definitions:

Total Revenue

The total amount of money generated by a business from the sale of goods or services before any expenses are deducted.

Graph

A visual representation of data, relationships, or functions, often using lines, bars, or points to simplify and convey complex information.

Demand Curve

A graphical representation showing the relationship between the price of a good and the quantity demanded by consumers at various prices.

Total Revenues

The sum of all income generated by a company through its business activities, typically from the sale of goods and services before any costs or expenses are deducted.