In a Consolidation,what Happens to the Property of the Original

question 11

Multiple Choice

In a consolidation,what happens to the property of the original corporations?

• A) It must be sold and distributed to the respective shareholders.
• B) It must be held in trust for at least one year to satisfy claims of creditors.
• C) It must be held in trust for at least six months to satisfy claims of creditors.
• D) It must be placed within the jurisdiction of the secretary of state for at least one year in order to satisfy claims of creditors.
• E) None of these.

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Definitions:

Folds

Structures formed by the bending and warping of rocks under pressure during geological processes, often seen in mountain ranges.

Joints

Natural fractures or separations in rocks without displacement, often formed by stresses such as contraction, expansion, or tectonic activities.

Faults

Fractures in the Earth's crust along which there has been significant displacement as a result of rock-mass movement.

Beds

Horizontal layers of sedimentary rock that display a planar or nearly planar bedding surface, indicating periods of deposition over time.