Which of the Following Is Generally False Regarding the Surviving

question 41

Multiple Choice

Which of the following is generally false regarding the surviving entity in a merger situation?

• A) The surviving entity remains a single corporation.
• B) The shareholders of the surviving entity must amend its articles of incorporation according to the specific conditions of the merger.
• C) The surviving entity does not become liable for debts of the absorbed corporation.
• D) The surviving entity obtains the absorbed corporation's assets.
• E) The surviving entity obtains the absorbed corporation's rights, powers, and privileges.

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Definitions:

Wilmot Proviso

An unsuccessful 1846 proposal in the United States Congress that aimed to ban slavery in territory acquired from Mexico in the Mexican War.

Appeal of the Independent Democrats

A document issued in 1854 criticizing the Kansas-Nebraska Act and advocating for anti-slavery policies.

Mexican War

A conflict between the United States and Mexico from 1846 to 1848, resulting in the U.S. annexing territory that includes present-day California, Arizona, and New Mexico.

Foreign Soil

Foreign soil refers to land or territory under the sovereignty of a country other than one’s own.