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Midnight Corporation Transferred Part of Its Assets to Noon Corporation

question 9

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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?


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Album

A collection of audio recordings issued as a single item on CD, record, or digital format, typically by a single artist or band.

File

A collection of data or information that is stored under a specific name on a computer or digital device.

Full Collection

A term referring to the complete set of items or data within a specific category or library.

Photos app

A software application designed for managing, viewing, editing, and organizing digital photographs on devices such as computers, tablets, or smartphones.

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