Dynamo Corporation combines its assets and liabilities with those of Energy Company to form Fuel Inc. Dynamo and Energy cease to exist. The formation of Fuel Inc. is:______ a. a takeover. b. a consolidation. c. a liquidation. d. a share exchange.
1 answer
Question:
Dynamo Corporation combines its assets and liabilities with those of Energy Company to form Fuel Inc. Dynamo and Energy cease to exist. The formation of Fuel Inc. is:______
a. a takeover.
b. a consolidation.
c. a liquidation.
d. a share exchange.
a. a takeover.
b. a consolidation.
c. a liquidation.
d. a share exchange.
Answers
Answer:Dynamo Corporation combines its assets and liabilities with those of Energy Company to form Fuel Inc. Dynamo and Energy cease to exist. The formation of Fuel Inc. is:______ a. a takeover.Explanation:The scenario implies that both Dynamo and Energy cease to exist as separate entities but become one now consolidated to be Fuel Inc. It means that Fuel Inc. took over the assets and liabilities of both Dynamo and Energy and they no longer exist as legal entities. Fuel Inc. is a new entity birthed by the fusion of Dynamo and Energy.
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