The courts may grant a petition of involuntary dissolution if shareholders:
a. do not approve of fundamental changes of the board.
b. show that the corporation has not kept adequate records or filed annual reports.
c. did not receive their dividends.
d. show that corporate assets are being squandered.
d
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The following are internal stakeholders, except:
A) employees B) labor unions C) shareholders D) customers
Last year Snyder Company reported sales of $125,000 on its income statement. During the year, accounts receivable increased by $30,000 and accounts payable increased by $10,000. The company uses the direct method to determine the net cash flows from operating activities on the statement of cash flows. The sales revenue adjusted to a cash basis would be:
A) $105,000. B) $115,000. C) $95,000. D) $145,000.
Possession is available as a means of perfecting a security interest in accounts and letter-of-credit rights
a. True b. False Indicate whether the statement is true or false
Andy's business is not able to pay its debts, and the prospects for its finances to improve are slim. Andy decides not to continue the business. In this case, Andy should file a voluntary petition for which type of bankruptcy?
A)Chapter 7. B)Chapter 11. C)Chapter 13. D)Chapter 12.