A _____ of two corporations occurs when they combine so that one survives and the other ceases to exist.
A. dissolution.
B. merger.
C. buyout.
D. consolidation
Answer: B. merger.
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Karl Mathers set up a new company and obtained loans to buy inventory with the intention of filing for bankruptcy after 2 years and selling the inventory later to a close friend at deep discounts. What is the term for this type of bankruptcy fraud?
a. Commercial loan fraud b. Inventory dumping fraud c. Bust-out d. None of the above
Which of the following is NOT added to net income as an adjustment to reconcile net income to cash from operating activities on the statement of cash flows?
a. Increase in an accrued liability b. Amortization of discount on bond payable c. Loss on sale of operational asset d. Increase in deferred tax asset
Other income and expenses are items that are not related to the primary operating activity
Indicate whether the statement is true or false
The disadvantages of arbitration include: I. Limited Discovery II. Limited Rights to Appeal A) I only
B) II only. C) Neither I nor II. D) Both I and II.