Which of the following statements are correct?I. Going-concern value of a firm is equal to the present value of expected future cash flows to owners and creditors.II. When an acquiring firm purchases a target firm’s equity, the acquirer need not assume the target’s liabilities.III. The market value of a public company reflects the worth of the business to minority investors.IV. The fair market value of a business is usually the lower of its liquidation value and its going-concern value.I and III onlyII and IV onlyII and III onlyI, II, and III onlyII, III, and IV onlyNone of the options are correct.

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