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Homer is the chair of the board of directors of Marge Corporation. Marge Corporation manufactures...

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Accounting

Homer is the chair of the board of directors of Marge Corporation. Marge Corporation manufactures cars and Bart the chairman of Lisa Corporation manufactures car parts. Homer and Bart considered combining into one corporation. Homer proposed acquiring all of the assets of Lisa's corporation of which Bart agreed or alternatively, combining the two corporations to form a new corporation. Homer and Bart discussed the transfer of property, exiting debts and amending the corporations articles of incorporation. Discuss what the two combinations are called. How does each combination legally affect the transfer of property, debts (liabilities) of both corporations and if the articles of incorporation must be amended?

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