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Midnight Corporation Transferred Part of Its Assets to Noon Corporation

question 13

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Midnight Corporation transferred part of its assets to Noon Corporation in exchange for all of Noon's stock. Midnight distributed all of Noon's stock pro rate to Midnight's shareholders. What is this type of reorganization?


Definitions:

Augmented Reality

A technology that superimposes computer-generated images on a user's view of the real world, providing a composite view that augments the real environment.

Virtual Reality

A simulated experience created with computer technology, which can replicate an environment or simulate a presence in real or imagined worlds.

Mainframes

High-performance computers used primarily by large organizations for bulk data processing, such as census, industry and consumer statistics, ERP, and financial transaction processing.

Big Data

A collection of data so large and complex that it is difficult to manage using traditional database management systems.

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