The termination of a corporation's operation except for activities needed for liquidation is known as .
A)renunciation
B)dissolution
C)destruction
D)incapacitation

Question

The termination of a corporation's operation except for activities needed for liquidation is known as . ​
A)renunciation
B)dissolution
C)destruction
D)incapacitation

Quizplus · Accepted Answer

Dissolution refers to the process of legally ending the existence of a corporation, which includes ceasing operations except for activities necessary to liquidate and settle its affairs.

The Termination of a Corporation's Operation Except for Activities Needed