Midnight Corporation Transferred Part of Its Assets to Noon Corporation

question 9

Multiple Choice

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?

• A)split-off
• B)spin-off
• C)split-up
• D)dividend distribution

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Definitions:

Entire Output Word

In digital systems, it refers to the complete set of bits (binary digits) output by a device or system at one time, representing a piece of information or data.

Sequencer Instructions

Instructions used in programmable logic controllers (PLCs) to execute a series of steps in a predefined order, often used for repetitive or sequential operations.

Nonretentive

Referring to a device or process that does not retain data or state upon power loss or reset.