Which of the following is not true about a merger of two not-for-profit entities?
A) The two entities will continue to legally exist but there will be a new governing board.
B) Neither entity is considered to be acquired.
C) Identifiable assets and liabilities are not adjusted to their fair values at the date of the merger.
D) The two entities will together form an entirely new entity with a new governing board.
E) There will be no acquisition value or goodwill determination.

Question

Quizplus · Accepted Answer

In a merger of two not-for-profit entities, the two entities do not continue to legally exist separately; instead, they form a new entity or one absorbs the other.

Which of the Following Is Not True About a Merger