Generally, a Corporation That Purchases the Assets of Another Corporation

question 28

True/False

Generally, a corporation that purchases the assets of another corporation is automatically responsible for the liabilities of the selling corporation.

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Definitions:

Directing

The process by which managers, given their assigned level of responsibilities, run day-to-day operations.

Management Process

A systematic approach to planning, organizing, leading, and controlling an organization's activities to achieve its objectives efficiently and effectively.

Day-to-Day Operations

Refers to the routine activities required for the ongoing management and upkeep of a business or organization.

Directing

The management process of guiding and overseeing employees to achieve the objectives of the organization.