Multiple choice, no explanation needed.

1. A merger is a legal combination of two or more corporations where after the merger, a new corporation is formed.

A. True

B. False

2. A consolidation is a legal combination of two or more corporations where after the merger, a new corporation is formed.

A. True

B. False

3. In a merger, the surviving corporation retains all of the debts and obligations of each merging corporation.

A. True

B. False

4. The shareholders of the corporation that will not survive the merger must approve a merger.

A. True

B. False

5. Appraisal Rights are:

A. A statutory right for only the dissenting shareholders to be paid the fair value of the shares. This occurs only if the shareholder(s) dissent to a consolidation.

B. A statutory right for dissenting directors to be paid the fair value of the share for dissenting directors during a consolidation. It occurs if any director dissents to the consolidation.

C. A statutory right for only directors to be paid the fair value of the share for all shareholders during a consolidation. It occurs if any director dissents to the consolidation.

D. A statutory right for all shareholders to be paid the fair value of the share for all shareholders during a consolidation. It occurs if any shareholder dissents to the consolidation.

6. Which state does not have anti-takeover statues?

A. California

B. Texas

C. New York

D. Delaware

7. Which of the following is not a known defense in a corporate takeover:

A. Donkey Kong

B. White Knight

C. Golden Parachute

D. Poison Pill

8. Dissolution of a corporation is:

A. The legal death of the corporation

B. The replacement of all of the corporate officers

C. The substitution of the legal purpose of the corporation

D. The replacement of all of the board of directors.

9. A board of director is personally liable for a breach of their fiduciary duties while winding-up corporate affairs when the dissolution was voluntary.

A. True

B. False

10. An offer to purchase made by one company directly to the sharholders of another company is called:

A. A dissolution

B. An appraisal right

C. A takeover

D. A tender offer