Task: Instance Description Understanding (ontology: Business_Finance/Financial_Industry_Business_Ontology)

Which of the following definitions best describes the instance 'inactive status'?

A. Based on the validation procedures in use by the LOU responsible for the record, the information supplied by the registrant can be partially corroborated by public authoritative sources, while some of the record is dependent upon the information that the registrant submitted, either due to conflicts with authoritative information, or due to data unavailability.
B. status indicating that the registration is for an entity that has been merged into another legal entity, such that this legal entity no longer exists as an independently operating entity
C. status indicating that as of the last report or update, the entity was legally registered and operating
D. status indicating that the entity is no longer legally registered and/or operating, whether as a result of business closure, acquisition by or merger with another (or new) entity, or determination of illegitimacy

Answer: status indicating that the entity is no longer legally registered and/or operating, whether as a result of business closure, acquisition by or merger with another (or new) entity, or determination of illegitimacy