According to the Text, There Are Three Circumstances Under Which

question 12

Essay

According to the text, there are three circumstances under which a corporation acquiring assets assumes the liabilities of the selling corporation. Please list all three circumstances.

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Definitions:

Dense Crust

Refers to parts of the Earth's crust that are made up of heavier, denser materials, often found in oceanic crust compared to continental.

Less Dense Crust

Refers to the Earth's continental crust, which is less dense than oceanic crust, allowing it to float higher on the mantle.

Continental Crust

The dense segment of the Earth's crust responsible for the formation of big terrestrial masses, which is usually more ancient and complex compared to the oceanic crust.

Oceanic Crust

The thin layer of the Earth's crust that underlies the ocean basins, composed mainly of basalt.