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Multiple Choice Quiz
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1
A __________ occurs when a legal contract combines two or more corporations such that only one of the corporations continues to exist.
A)Consolidation
B)Collaboration
C)Merger
D)Dissolution
2
In a merger, the surviving corporation's right to sue for debt and damages on behalf of the absorbed corporation is called a(n) __________.
A)Chose in action
B)"Close-in" action
C)Incorporeal hereditament
D)Corporal hereditament
3
Which of the following is not a procedural requirement for a merger or consolidation?
A)The boards of directors of all involved corporations must approve the merger or consolidation plan
B)The shareholders of all involved corporations must approve the plan by a vote at a shareholder meeting
C)The officers of all involved corporations must approve the plan by a "super-majority" vote
D)The involved corporations must submit the merger or consolidation plan to the secretary of state
4
A "short-form" merger is also known as a __________.
A)Merger of equals
B)Parent-subsidiary merger
C)Short order merger
D)"Time-is-of-the-essence" merger
5
A(n) __________ is a dissenting shareholder's right to have his/her shares appraised and to receive monetary compensation from the corporation for their value.
A)Appraisal right
B)Accounting
C)Equity right
D)Quorum
6
A corporation that acquires another corporation (through stock purchases) is known as a(n) __________.
A)Pac-corporation
B)Aggressor
C)Divesting corporation
D)Liquidator
7
__________ are takeovers to which the management of the target corporation objects.
A)Hostile conquests
B)Hostile takeovers
C)Aggressive conquests
D)Aggressive takeovers
8
A __________ occurs when a group within a corporation (usually management) buys all outstanding corporate stock held by the public.
A)Leveraged buyout
B)Field acquisition
C)Summit divestiture
D)None of the above
9
In a __________, the target corporation offers to buy its shareholders' stock.
A)Capitulation
B)Dissolution
C)Self-tender offer
D)Stock ordinance
10
The "death" of a corporation occurs in two (2) phases: __________, the legal termination of the corporation, and __________, the process by which the board of directors converts the corporation's assets into cash and distributes them among the corporation's creditors and shareholders.
A)Resolution; consolidation
B)Dissolution; consolidation
C)Resolution; liquidation
D)Dissolution; liquidation





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