Question

There are _________ kinds of voluntary winding up.

• A. $2$
• B. $3$
• C. $4$
• D. $5$

Answer 1

Answer: (A)

$2$

Voluntary winding up is the process in which a company is unable to carry out it operations or the period for carrying the operations expires or if it is unable to meet its financial obligations. It can carry this process either by passing special resolution or by ordinary resolution. There are two kinds of voluntary winding up. They are;

1. Member's voluntary winding up.
2. Creditors voluntary winding up.