Shale Oil Corporation combines its assets and debts with those of Tierra Frakking Company to form Unified Resources, Inc. Shale and Tierra cease to exist
The formation of Unified Resources is?
a. a purchase of assets
b. a merger
c. a consolidation
d. a share exchange
Unified Resources acquires
a. all of Shale's and Tierra's assets.
b. none of Shale's and Tierra's assets unless there is a formal transfer
c. only assets that Shale and Tierra acquired after a combination was proposed
d. half of Shale's and Tierra's assets
Unified Resources assumes?
a. only debts that Shale and Tierra incurred after a combination was proposed
b. none of Shale's and Tierra's debts unless there is a formal transfer of liability
c. all of Shale's and Tierra's debts
d. half of Shale's and Tierra's debts