1 Hourglass: Torso and hips are approximately the same width - with waist definition.  Apple: Torso and upper body wider than your hips - with little or no waist definition. You might have weight surrounding your waist.
From a legal point of view, a merger is a legal consolidation of two entities into one entity, whereas an acquisition occurs when one entity takes ownership of another entity's stock, equity interests or assets.
Understanding Liquidity. In order for a business owner to decide on the amount of cash reserves the company needs, he must understand how cash reserves factors into liquidity. Liquidity refers to the total amount of cash a business has available, including lines of credit.