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How to Dissolve a Corporation

Instructions:

Choose an answer and hit 'next'. You will receive your score and answers at the end.

question 1 of 3

Most corporations have perpetual existence. This means that:

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1. A corporation can only be terminated through:

2. Sometimes a court will order the termination of a corporation. This is known as:

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About This Quiz & Worksheet

Topics you'll need to know to pass the quiz on dissolving a corporation include understanding what a company's perpetual existence means, as well as how a corporation can be terminated.

Quiz & Worksheet Goals

Use this printable worksheet and quiz to review the following topics related to dissolving corporation:

  • Meaning of perpetual existence
  • Only way a corporation can be terminated
  • Court-ordered termination
  • Who first votes on a voluntary dissolution
  • Entitled parties to any remaining assets

Skills Practiced

  • Interpreting information - verify you can read information regarding how a corporation can be terminated and interpret it correctly
  • Knowledge application - use your knowledge to answer questions about who first votes on a voluntary dissolution
  • Reading comprehension - ensure that you draw the most important information from the related corporate dissolution lesson

Additional Learning

The corresponding lesson titled How to Dissolve a Corporation goes into further detail about legally terminating a corporation. This lesson will also help you:

  • Understand what a corporation is
  • Identify a corporation's' perpetual existence
  • Describe the conditions necessary for ending a corporation's existence
  • Show the steps involved when the dissolution is voluntary
  • Appreciate what needs to happen when it is involuntary
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