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      Question

      In relation to Amalgamation, which of the following statements is INCORRECT?

      A In amalgamation, two or more companies are wound up and a new company is formed to take over their business. Correct Answer Incorrect Answer
      B In amalgamation, only one resultant company is formed. Two companies are wound up to form a single resultant company. Correct Answer Incorrect Answer
      C In amalgamation, an existing company takes over the business of one or more existing companies. Correct Answer Incorrect Answer
      D Amalgamation is done to cut competition and reap the economies on a large scale. Correct Answer Incorrect Answer

      Solution

      The correct answer is C

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