Both the directors and shareholders of Big X Corporation are tired of the business, and want to end it. How should they proceed?

Group of answer choices

The board of directors should recommend dissolution, the shareholders should vote on the issue of dissolution, and assuming there is a majority vote by the shareholders favoring dissolution, articles of dissolution must be filed with the secretary of state in the state of incorporation.

The board of directors should vote, and articles of dissolution must be filed with the secretary of state in the state of incorporation, but there is no requirement that shareholders vote on the issue of dissolution.

All that is necessary is that the board of directors vote in favor of dissolution.

If both the board of directors and the shareholders vote in favor of dissolution, all business dealings must cease, notice must be placed in newspapers of general circulation, and signs must be posted at all places of business.

All that is necessary is a shareholder vote in favor of dissolution.