568 | Basic Financial Accounting and Reporting 2021 Edition by Prof. WIN Ballada11. Outstanding shares are thea. number of shares that have been distributed to shareholders.b. total number of shares that can be issued by the corporation at any time.C. number of shares that are owned by shareholders at the balance sheet date.d. number of shares the corporation has repurchased.12. Treasury shares are thea. number of shares that have been issued to shareholders.b. total number of shares that can be issued by the corporation at any time.C. number of shares that are owned by shareholders at the balance sheet date.d. number of shares the corporation has repurchased.13. The difference between issued shares and outstanding shares of stock isa.authorized stock.b. common stock.C. preferred stock.d. treasury stock.14. When Bradley Corporation incorporated, it was authorized to issue 1,000,000 sharesof common stock. It immediately issued 50,000 shares. In 2017, it issued anadditional 20,000 shares. In 2020, it repurchased 5,000 shares with the intent ofreissuing them. On the Dec. 31, 2020, balance sheet, Bradley Corporation wouldshowa. 50,000 shares issued and 45,000 shares outstanding.b. 70,000 shares issued and 65,000 shares outstanding.70,000 shares issued and 70,000 shares outstanding.d. 1,000,000 shares issued and outstanding.C. Preference shares of stock may be issued with par or no-par value.2. A corporation can be a general partner in a partnership.-3. The board of directors shall exercise the corporate powers of a corporation.- 4. A public corporation is one formed for the government of a portion of the state.5. All incorporators are subscribers but a subscriber need not be an incorporator.2 6. A partnership can be a corporator in a corporation.7. No-par value shares may not be issued without being fully paid.A shareholder in a corporation does not have the right to transact corporatebusiness or to intervene in the management of the business.9. A corporation can come into existence by mere agreement of the parties as in thecase of partnerships.2 1.8.10. A corporation can be held liable for personal indebtedness of a shareholder.11. Shareholders may be natural or juridical persons.12. No-par value shares have a minimum stated value of P5.00 per share.13. Each of the incorporators of a stock corporation must own or be a subscriber to atleast two (2) shares of the share capital of the corporation.14. The board of directors is responsible for the formulation and implementation of theoverall policies for the corporation.15. Eleemosynary corporations are those organized for public charity.16. A corporation is an artificial being with a personality separate and apart from itsindividual shareholders or members.17. Shares of stock cannot be transferred without the consent of the othershareholders.18. Shareholders of a corporation elect the board of directors, who in turn appoint thetop officers of the corporation.19. Under the RCCP, at least twenty five percent of authorized share capital must besubscribed and at least twenty-five percent of the total subscription must be paidupon subscription. In no case shall the paid-up capital be less than P5,000.20. A corporation has continuity of existence which permits the business to continueregardless of changes in ownership or the death of a shareholder.21. Only natural persons can be incorporators.22. Any individual shareholder in a corporation may personally be held liable for alldebts incurred by the corporation.23. Non-stock corporations may be formed or organized for charitable, religious,educational, professional, cultural, recreational, fraternal, literary, scientific, social,civic service, or similar purposes.24. A corporation is created by agreement of the shareholders.25. All incorporators (if they continue to be shareholders) are corporators of acorporation.

Hey there since multiple questions are posted only the first three questions will be answered.…

11. Outstanding shares are the a. number of shares that have been distributed to shareholders. b. total number of shares that can be isued by the corporation at any time. C. number of shares that are owned by shareholders at the balance sheet date. d. number of shares the corporation has repurchased. 12. Treasury shares are the a. number of shares that have been issued to shareholders. b. total number of shares that can be issued by the corporation at any time. number of shares that are owned by shareholders at the balance sheet date. d. number of shares the corporation has repurchased. C. 13. The difference between issued shares and outstanding shares of stock is a. authorized stock. b. common stock. C. preferred stock. d. treasury stock.

11. Outstanding shares are the a. number of shares that have been distributed to shareholders. b. total number of shares that can be isued by the corporation at any time. C. number of shares that are owned by shareholders at the balance sheet date. d. number of shares the corporation has repurchased. 12. Treasury shares are the a. number of shares that have been issued to shareholders. b. total number of shares that can be issued by the corporation at any time. number of shares that are owned by shareholders at the balance sheet date. d. number of shares the corporation has repurchased. C. 13. The difference between issued shares and outstanding shares of stock is a. authorized stock. b. common stock. C. preferred stock. d. treasury stock.

SWFT Corp Partner Estates Trusts

42nd Edition

ISBN:9780357161548

Author:Raabe

Publisher:Raabe

Chapter13: Comparative Forms Of Doing Business

Section: Chapter Questions

Problem 19DQ

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Subject: Law on Partnership and Corporations
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1. From among the list, what is the difference between a partnership and a corporation? a. Existence of the corporation is perpetual but partnership is not b. Both have separate and juridical personality from the people composing it c. Both can be created to practice a profession d. The properties are owned solely by the partnership and corporation2. When the Securities and Exchange Commission disapproves the amended Articles of Incorporation, what is the available remedy of the Corporation? a. A criminal complaint may be filed to compel the Securities and Exchange Commission. b. A civil suit may be filed to compel the Securities and Exchange Commission. c. A reasonable time to modify the objectionable portions of the articles or amendment. d. None of the above 3. A promised that in order to help the partnership start its business, he will contribute P1Million as capital. Now that the partnership is about to begin, the partners demanded A to give his promise. However, A…
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