To evaluate which combination of statements is correct, let's analyze each statement one by one:
A. An estate of parties married in community of property is not affected by the liquidation of a business registered as a separate legal entity to which they are shareholders.
This statement is generally correct. The estate of the married couple would not be affected by the liquidation of a business unless they are personally liable for the debts of that business.
B. A special resolution of shareholders initiates compulsory winding up of an insolvent company.
This statement is not entirely correct. A special resolution can initiate voluntary winding up, but compulsory winding up is usually initiated by a court, not directly by a shareholder resolution.
C. A company can be wound up by a court or voluntarily.
This statement is correct. A company can indeed be wound up through either a court process (compulsory winding up) or through a voluntary winding up initiated by the shareholders.
D. A company that is liquidated cannot be rehabilitated.
This statement is incorrect. Under certain conditions, a company that has been liquidated may be able to be rehabilitated or reinstated.
E. A special resolution of shareholders initiates voluntary winding up.
This statement is correct. A shareholders' special resolution does initiate a voluntary winding up process.
Now we can see which combination is correct by checking the statements:
- Statements A, B and E are correct. (B is not correct)
- Statements A, C, D and E are correct. (D is not correct)
- Statements B, C and E are correct. (B is not correct)
- Statements A, B, C and D are correct. (B and D are not correct)
- All the statements are correct. (B and D are not correct)
The only correct combination of statements is:
Statements A, C, and E are correct.
However, since that exact combination isn't provided in the options, we can conclude that potentially none of the options given accurately reflect the combination of true statements.
If we must select from the provided options, the closest would be Statements A, C, D and E are correct, as A, C, and E are correct and only D is incorrect.
Thus, in practice, one might state that the correct combination of truth lies with A, C, and E.
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