The winding up of a firm by a resolution of its shareholders is an example of

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The winding up of a firm by a resolution of its shareholders is an example of voluntary liquidation. This means that the company's shareholders have made a decision to voluntarily end the company's operations and dissolve it. The process of voluntary liquidation involves distributing the company's assets to its creditors and shareholders and officially ending the company's existence as a legal entity. This is typically done when the company is no longer profitable or the shareholders feel that it is in the best interest of the company to end its operations. Voluntary liquidation is different from bankruptcy, which is a legal process where a company is declared unable to pay its debts and its assets are sold to repay creditors. It is also different from recession, which is a general slowdown in economic activity, and involuntary liquidation, which is a process where a company is forced to wind up its operations by a court order.