A Corporation Must Be Dissolved If Over 50% of the Shareholders

question 63

True/False

A corporation must be dissolved if over 50% of the shareholders die.

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Definitions:

Total Income

Total Income refers to the aggregate earnings of an individual or organization from all sources before any deductions are made.

Benefits-received Principle

The concept that individuals should pay taxes in proportion to the benefits they receive from government services.

Gasoline Tax

A levy imposed by governments on the sale of gasoline, used primarily to fund transportation initiatives.

Lump-sum Tax

A fixed tax amount not dependent on the taxpayer's income level or financial transactions.