Question

question 25 (2.5 points)
fresh flowers inc., and other corporations, presents their corporate business concerns at a shareholders’ meeting in the form of

a) bylaws.

b) proxies.

c) resolutions.

d) articles of incorporation.

question 26 (2.5 points)
sally shoe corporation and boots unlimited company wish to combine all assets, stock, and personnel into a new firm to be called footwear inc. this is

a) a merger.

b) a takeover.

c) a consolidation.

Explanation:

Question 25

To solve this, we analyze each option:

• Option a (bylaws): Bylaws are the rules governing a corporation's internal operations, not presented at shareholder meetings as business concerns.
• Option b (proxies): Proxies are used for shareholders to appoint someone to vote on their behalf, not for presenting business concerns.
• Option c (resolutions): Resolutions are formal proposals or decisions made at meetings (like shareholder meetings) to address business concerns. This fits the context of presenting corporate business concerns.
• Option d (articles of incorporation): These are the legal documents forming the corporation, filed initially, not presented at shareholder meetings for business concerns.

We analyze the options based on corporate combination definitions:

• Option a (a merger): A merger is when two companies combine, and one continues (the other ceases). Here, a new firm (Footwear Inc.) is formed, so it's not a merger.
• Option b (a takeover): A takeover is when one company acquires another, often against the target's will. This is a voluntary combination to form a new firm, so not a takeover.
• Option c (a consolidation): Consolidation occurs when two or more companies combine to form an entirely new company (both original companies cease, and a new one is created). Since Sally Shoe and Boots Unlimited are combining to form Footwear Inc. (a new firm), this is a consolidation.

Answer:

c) resolutions.

Question 26