1. The shareholders of the acquiring company in a statutory merger must consent to the merger. True or False? Explain: Different between the acquired and acquiring companies

2. If a corporation fails to file articles of dissolution, its shareholders may be personally liable for its debts. True or False? Explain why.

3. When a company files for bankruptcy, it may dissolve or it may reorganize and continue doing business. True or False? Explain: Different between the liquidation and dissolution.

4. If a company borrows money and assigns a security interest in its assets to the lender as collateral, then that lender can foreclose on the assets as soon as the company defaults on the loan. True or False? Explain: Difference between the unsecured debt and secured debt.