1. Which of the following statements is true of the requirements for mergers and consolidations?

a. The shareholders of all involved corporations must approve the plan by a vote at a shareholder meeting.

b. Most states require the approval of three-fourths of the outstanding shares of voting stock.

c.The board of directors of the dissolving corporation need not necessarily approve the merger or consolidation plan.

d.The involved corporations must submit the merger or consolidation plan to the governor's office.

2. Dissolution:

a. is the legal termination of a corporation.

b. must be involuntary.

c. must be initiated by the shareholders.

d. is the process by which the directors of a corporation convert the corporation's assets into cash.