Recently there have been several mergers involving Big Four accounting firms. One such merger involved the firms of Arthur Young and Ernst & Whinney, who combined to form Ernst & Young. This is an example of a
A. joint venture.
B. horizontal merger.
C. vertical merger.
D. syndicate.
E. conglomerate merger.
Answer: B
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A(n) ______ question is one originally asked by a group member to the leader who then directs it back to the person who asked it.
A. relay B. overhead C. direct D. reverse
What is a Chapter 7 discharge?
A) The termination of the legal duty of an individual debtor to pay both secured and unsecured debts before he or she is granted a court trial. B) The termination of the legal duty of an individual debtor to pay unsecured debts that remain unpaid upon the completion of a Chapter 7 proceeding. C) The cancellation of all debts of a debtor that remain unpaid upon the completion of a Chapter 13 proceeding. D) An instruction to the debtor to propose a plan to pay all or a portion of the debts he or she owes in installments.
Which of the following is true of Section 11 of the Securities Act of 1933?
A) It permits injured private parties to bring criminal action against fraudulent registration statements filed by issuers. B) It imposes liability on those who are negligent in not discovering the fraud. C) It allows an issuer to assert a due diligence defense against the imposition of Section 11 liability. D) It cannot be imposed on cases involving negligent omission of a material fact in a registration statement.
MegaCorp is incorporated under Delaware law. It is registered to do business in New York. Legally, in New York MegaCorp is known as what kind of corporation?
a. Domestic b. Foreign c. Secondary d. Cumulative