Asked by Joseph Stewart on May 27, 2024
Verified
Dissolution of a corporation can be brought about by an agreement between the shareholders and the board of directors.
Dissolution Agreement
A legal contract that outlines the terms under which a partnership or corporation formally ends its business operations and distributes its assets.
Board of Directors
A group of individuals elected by shareholders to govern and make major decisions for a corporation.
- Comprehend the procedures and parties involved in voluntary dissolution.
Verified Answer
DB
Devyol BekawalaJun 01, 2024
Final Answer :
True
Explanation :
Dissolution of a corporation can indeed be initiated through an agreement between the shareholders and the board of directors, as they are key stakeholders in the corporation's governance and decision-making processes.
Learning Objectives
- Comprehend the procedures and parties involved in voluntary dissolution.
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