A Voluntary Winding Up Commences When

question 13

Multiple Choice

A voluntary winding up commences when:

• A) the members of the company pass a special resolution to wind up.
• B) an application is filed with the court by the company's external auditor.
• C) the company is unable to pay its debts.
• D) ASIC applies to the court for the winding up.

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Definitions:

Conscientiousness

A quality in a person that includes being orderly, trustworthy, and having a deep commitment to obligations.

Diligent

Showing careful and persistent work or effort in tasks or duties.

Disciplined

Showing a controlled form of behavior or way of working.

Five-factor Model

A personality model theorizing that five broad dimensions suffice to describe human personality: openness, conscientiousness, extraversion, agreeableness, and neuroticism.