In Order to Determine If a De Facto Merger Occurred

In order to determine if a de facto merger occurred the courts will consider all of the following factors except:

A) Whether the reasonable person would have determined that a merger occurred.
B) Whether there was continuity of management, personnel and business operations.
C) Whether there was continuity of ownership.
D) What was the assumption by the buyer of the seller's obligations necessary for uninterrupted operation of the company.