manager
a court of competent jurisdiction
Board of Directors
Central Government
Answer is Right!
Answer is Wrong!
The correct answer is C. Board of Directors.
A voluntary winding-up is a type of liquidation that is initiated by the company’s directors. The directors must make a declaration of solvency, which is a statement that the company is able to pay its debts in full within the next 12 months. Once the declaration of solvency is made, the winding-up is deemed to commence.
The manager, a court of competent jurisdiction, and the Central Government are not involved in the declaration of solvency. The manager is the
person who is responsible for the day-to-day running of the company. The court of competent jurisdiction is a court that has the power to wind up a company. The Central Government is the government of a country.Here is a brief explanation of each option:
- Option A: The manager is not involved in the declaration of solvency. The manager is the person who is responsible for the day-to-day running of the company. The declaration of solvency is made by the Board of Directors.
- Option B: A court of competent jurisdiction is a court that has the power to wind up a company. However, the court is not involved in the declaration of solvency. The declaration of solvency is made by the Board of Directors.
- Option C: The Board of Directors is the body of people who are responsible for the management of a company. The Board of Directors is responsible for making the declaration of solvency.
- Option D: The Central Government is the government of a country. The Central Government is not involved in the declaration of solvency. The declaration of solvency is made by the Board of Directors.