Karl was diagnosed with cancer and had to quit work because he was very sick
Debts began to grow and Karl now owes $100,000 to the bank and credit card companies, plus $12,000 in unpaid child support payments, plus he still owes $80,000 on the mortgage on his condominium. Karl is hoping to avoid going bankrupt. Which of the following should Karl do at this stage?
A) file a Division 1 Proposal
B) file a Division 2 Proposal
C) file a CCAA proposal
D) pay his mortgage but default on his other debts
E) he should declare bankruptcy and all his debts would be erased and he can still keep his condo
B
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Acorn Corp. wants to acquire the entire business of Trend Corp. Which of the following methods of business combination will best satisfy Acorn's objectives without requiring the approval of the shareholders of either corporation?
A. A merger of Trend into Acorn, whereby Trend shareholders receive cash or Acorn shares. B. A sale of all the assets of Trend, outside the regular course of business, to Acorn, for cash. C. An acquisition of all the shares of Trend through a compulsory share exchange for Acorn shares. D. A cash tender offer, whereby Acorn acquires at least 90% of Trend's shares, followed by a short-form merger of Trend into Acorn.
Which of the following is an example of an organization's financial objective?
A) increasing organization-wide sales by 15% by end of calendar year B) improving recommendations rate from 30% to 70% of customers surveyed, by end of year C) developing market share in new market Y from 0% to 10% within one year D) adding a new luxury brand to target high-end customer