A Corporation Is Dissolved Upon the Effective Date of the Articles

question 86

True/False

A corporation is dissolved upon the effective date of the articles of dissolution.

---

Definitions:

Affirmative Defense

A defendant’s response to a plaintiff’s claim in which the defendant attacks the plaintiff’s legal right to bring the action rather than attacking the fact of the claim or making excuses for unlawful behavior. Common

GAAS

Generally Accepted Auditing Standards, which are guidelines that auditors follow when conducting audits on companies' finances.

GAAP

Generally Accepted Accounting Principles, which are a common set of accounting rules and standards for financial reporting.

Sarbanes-Oxley Act

A U.S. law enacted in 2002 aimed at improving corporate governance and accountability through stricter auditing and financial regulations.