AB Corporation Consolidates with ZX Corporation to Form A-Z Corporation

question 59

Multiple Choice

AB Corporation consolidates with ZX Corporation to form A-Z Corporation.The debts of AB Corporation are:

• A) assumed by A-Z Corporation.
• B) discharged by the issuance of new stock in A-Z Corporation.
• C) discharged by the process of consolidation.
• D) assumed by the stockholders of AB Corporation.