Generally, a corporation that is selling all of its assets must obtain the approval of the board of directors and the shareholders.

Name: Generally, a corporation that is selling all of its assets must obtain the approval of the board of directors and the shareholders.
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Question

Generally, a corporation that is selling all of its assets must obtain the approval of the board of directors and the shareholders.​

Quizplus · Accepted Answer

Selling all assets of a corporation is a significant decision, and therefore, it requires approval from both the board of directors and shareholders. This approval is typically obtained through a vote or resolution.

Generally, a Corporation That Is Selling All of Its Assets