Task: Instance Class Understanding (ontology: Business_Finance/Financial_Industry_Business_Ontology)

Which of the following classes does 'TRANSFORMATION SUBSIDIARY TO BRANCH' belong to as one valid explicit type? Context: GLEIF classifier for corporate actions involving the transfer of all of the assets and liabilities of a subsidiary to an International Branch entity in exchange for the transfer of securities representing the capital of the International Branch entity receiving the transfer

A. consent solicitation
B. priority issue
C. disclosure action
D. merger / acquisition

Answer: merger / acquisition