Identify Which of the Following Statements Is False

question 47

Multiple Choice

Identify which of the following statements is false.

• A)In a Type C reorganization, the acquired corporation must distribute stock, securities, and other property it receives to its shareholders.
• B)A Type C reorganization is less flexible than a Type A reorganization because of the solely-for-voting stock requirement of a Type C.
• C)To qualify as a Type C reorganization, the target corporation must be formally dissolved.
• D)In a Type C reorganization, shareholders of the acquiring corporation generally do not have to approve the acquisition.

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Definitions:

Winner-Take-All System

A winner-take-all system is an electoral system in which the candidate receiving the most votes wins the office or prize in question, with no rewards for those who finish second or lower.

Proportional Representation

Proportional representation is an electoral system in which parties gain seats in proportion to the number of votes cast for them.

Single-Seat

Pertaining to electoral systems or legislative chambers in which one representative is elected from each district or constituency.

Winner-Take-All

An electoral system in which the candidate receiving the most votes wins all the available seats or delegates, as opposed to proportional representation.