Which of the Following Is Not True About a Merger

Which of the following is not true about a merger of two not-for-profit organizations?

A) The two organizations will continue to legally exist but there will be a new governing board.
B) Neither organization 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 organization with a new governing board.
E) There will be no acquisition value or goodwill determination.