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

The question is asking about the type of situation where a company is closed down by a decision made by its shareholders.

The correct answer is option A: voluntary liquidation.

Voluntary liquidation occurs when a company's shareholders make a resolution to close down the company. This usually happens when the company is unable to pay its debts or when the shareholders decide that it is no longer profitable to continue operating. In a voluntary liquidation, the assets of the company are sold off to pay the debts, and any remaining funds are distributed among the shareholders.

The other options are not correct for this question.

Option B: bankruptcy refers to a situation where a company is unable to pay its debts and is declared bankrupt by a court.

Option C: recession refers to a period of general economic decline, and it is not directly related to the closure of a single company.

Option D: involuntary liquidation would occur if a company is forced to close down by external factors, such as a court order or the actions of creditors.

So, in summary, the winding up of a firm by a resolution of its shareholders is an example of voluntary liquidation.