Author Question: Discuss how a corporation is terminated. (Read 62 times)

jhjkgdfhk

  • Hero Member
  • *****
  • Posts: 569
Discuss how a corporation is terminated.

Question 2

The majority of the gross domestic product in the U.S. is produced by:
 A) service industries.
 B) manufacturing industries.
 C) trade in services.
 D) technology industries.
« Last Edit: Aug 3, 2019 by Celeste »



jaykayy05

  • Sr. Member
  • ****
  • Posts: 329
Answer to Question 1

Ordinarily, terminating a corporation is a three-step process. First, the directors recommend to the shareholders that the corporation be dissolved, and a majority of the shareholders agree. Second, the corporation files Articles of Dissolution with the Secretary of State. Third, the officers of the corporation pay its debts and distribute the remaining property to shareholders. When this winding up is completed, the corporation ceases to exist. Alternatively, the Secretary of State may dissolve a corporation that fails to comply with state requirements or a court may dissolve a corporation if it is insolvent or if its directors and shareholders cannot resolve conflict over how the corporation should be managed.

Answer to Question 2

A



Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
 

Did you know?

In ancient Rome, many of the richer people in the population had lead-induced gout. The reason for this is unclear. Lead poisoning has also been linked to madness.

Did you know?

As of mid-2016, 18.2 million people were receiving advanced retroviral therapy (ART) worldwide. This represents between 43–50% of the 34–39.8 million people living with HIV.

Did you know?

Acute bronchitis is an inflammation of the breathing tubes (bronchi), which causes increased mucus production and other changes. It is usually caused by bacteria or viruses, can be serious in people who have pulmonary or cardiac diseases, and can lead to pneumonia.

Did you know?

Pink eye is a term that refers to conjunctivitis, which is inflammation of the thin, clear membrane (conjunctiva) over the white part of the eye (sclera). It may be triggered by a virus, bacteria, or foreign body in the eye. Antibiotic eye drops alleviate bacterial conjunctivitis, and antihistamine allergy pills or eye drops help control allergic conjunctivitis symptoms.

Did you know?

Most childhood vaccines are 90–99% effective in preventing disease. Side effects are rarely serious.

For a complete list of videos, visit our video library