Which of the following is true regarding approval a corporation desiring to sell a majority of its assets must obtain?
A) A corporation desiring to sell a majority of its assets must obtain approval from officers, its board of directors, and shareholders.
B) A corporation desiring to sell a majority of its assets must obtain approval from officers and its board of directors, but not from shareholders.
C) A corporation desiring to sell a majority of its assets must obtain approval from its board of directors and shareholders, but not from officers.
D) A corporation desiring to sell a majority of its assets must obtain approval from shareholders, but not from officers or its board of directors.
E) A corporation desiring to sell a majority of its assets must obtain approval from its board of directors, but not from shareholders or officers.

Question

Quizplus · Accepted Answer

The selling corporation needs the approval of both its board of directors and its shareholders before it can sell its assets.

Which of the Following Is True Regarding Approval a Corporation