What happens when .NET 4.0 references a .NET 2.0 assembly?

Question

What exactly does the .NET 4.0 runtime do if a .NET 4.0 executable contains a reference to a .NET 2.0 assembly?

Is the .NET 2.0 assembly run with the .NET 4.0 runtim

Answer 1

They say it should work fine. Check out this.