Diversified Corporation's articles of incorporation prohibit a sale of its assets without a vote of the board of directors. Diversified's officers sell some assets to Enterprise Company without notice to the board. The officers also fail to pay Diversified's taxes on time,and some Diversified funds are not accounted for.
-The appropriate remedy is most likely

Question

Quizplus · Accepted Answer

Since Diversified's officers acted against the articles of incorporation by selling assets without board approval and failing to pay taxes, and funds are unaccounted for, dissolution of the company would likely be the appropriate remedy. This would allow for proper distribution of remaining assets and resolution of any outstanding debts or legal issues. The other options do not address the core issues at hand and could potentially lead to further legal and financial complications.

Diversified Corporation's Articles of Incorporation Prohibit a Sale of Its