Dissolution and winding up occurs

Question

Quizplus · Accepted Answer

Dissolution and winding up occur upon the termination of a corporation, either voluntarily or involuntarily. This is the process of closing down the corporation's activities, liquidating its assets, and distributing the proceeds to creditors and shareholders. B and C may involve some aspects of dissolution and winding up, but they are not the primary causes of it. Dissolution and winding up typically occur upon the termination of a corporation, either voluntarily or involuntarily through judicial action. It involves the liquidation of assets, payment of creditors, and distribution of remaining profits to shareholders.

Dissolution and Winding Up Occurs