On a Consolidation, a New Corporation Acquires All of the Assets

question 40

True/False

On a consolidation, a new corporation acquires all of the assets and liabilities of the corporations that were consolidated.

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Definitions:

Dissolution

The act of dissolving or ending an entity, such as the termination of a corporation or partnership.

Federal Statute

A law enacted by the United States Congress that applies to all states, territories, and possessions under U.S. jurisdiction.

Interstate Commerce

The buying, selling, or moving of products, services, or money across state borders, regulated by the federal government.

Stock Options

Financial derivatives allowing the holder to buy or sell specific shares at a predetermined price within a set time frame.