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Which of the following situations best describes a business combination to be accounted for as a statutory merger?

a) Both companies in a combination continue to operate as separate, but related, legal entities.

b) Only one of the combining companies survives and the other loses its separate identity.

c) Two companies combine to form a new third company, and the original two companies are dissolved.

d) One company transfers assets to another company it has created.

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M9449744

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