Question

S1: After dissolution but within the three year period for liquidation,a corporation's term may still be extended by amendment of its articles of incorporation

S2: The dissolution of a corporation shall take place because it has been in continuous non-operation for 5 years.
A. Both statement are false
B. Both are true
C. True, false
D. False, true

Answer 1

The two statements are false, true. Option D is the correct answer.

Step-by-step explanation:

The subject of this question is Business.

The two statements are:

• S1: After dissolution but within the three year period for liquidation, a corporation's term may still be extended by amendment of its articles of incorporation.
• S2: The dissolution of a corporation shall take place because it has been in continuous non-operation for 5 years.

The correct answer is option D: False, true.

Statement 1 is false because after dissolution, a corporation's term cannot be extended. Dissolution means the termination of a corporation's existence, and there is no way to extend its term.

Statement 2 is true because a corporation can be dissolved if it has been in continuous non-operation for a specified period of time, which is usually set by the state law. In this case, the specified period is 5 years.

So, the correct answer is option D: False, true.