Shale Oil Corporation combines its assets and debts with those of Tierra Frakking Company to form Unified Resources, Inc. Shale and Tierra cease to exist

The formation of Unified Resources is?

a. a purchase of assets

b. a merger

c. a consolidation

d. a share exchange

Unified Resources acquires

a. all of Shale's and Tierra's assets.

b. none of Shale's and Tierra's assets unless there is a formal transfer

c. only assets that Shale and Tierra acquired after a combination was proposed

d. half of Shale's and Tierra's assets

Unified Resources assumes?

a. only debts that Shale and Tierra incurred after a combination was proposed

b. none of Shale's and Tierra's debts unless there is a formal transfer of liability

c. all of Shale's and Tierra's debts

d. half of Shale's and Tierra's debts