After a corporation has commenced business or issued shares,the corporation can be ________ if the board of directors recommends dissolution and a majority of voting shareholders favors dissolution.

Question

Quizplus · Accepted Answer

Once a corporation has already commenced business or issued shares, it can be voluntarily dissolved if the board of directors recommends dissolution and a majority of voting shareholders favors dissolution. Choice A (rescinded) and B (remanded) do not accurately reflect the process of dissolving a corporation, while choice C (administratively dissolved) is a type of dissolution that is initiated by the state, not the corporation.

After a Corporation Has Commenced Business or Issued Shares,the Corporation