Subject: LAW ON PARTNERSHIP _1. Term of a corporation._2. Paid up capital of corporation shall not be less than.3. Required percentage of subscribed capital stock is_4. The charter of a corporation is otherwise known as,_5. The governing body of a stock corporation._6. The governing body of non-stock corporation._7. A person authorized to represent a stockholder who is absent in astockholders' meeting._8. A written authority authorizing another to represent a stockholder in ameeting._9. Such number of the membership of a collective body as is competent totransact its business or do any other corporate act._10. Three general powers of a corporation are._11._12._13. The right of a stockholder to be given priority to subscribed to newcapital stock of the corporation._14. The right of a stockholder to compel the corporation to pay for his/hershares under certain circumstances._15. A portion of the corporation's profits for distribution to itsstockholder/members._16. Kinds of dividends are ._17._18._19._20._21. An act which is beyond the conferred powers of a corporation or thepurpose for which it is created._22. Rules of action adopted by the corporation for its internal regulations._23. Two kinds of corporate meetings are._24.25.Written instrument signed by a corporate officer stating oracknowledging that the person named therein is the owner of a designated number of shares ofits stocks.

Corporation refers to the concept which differentiates the company from its owners legally.…

Answered: 2. Páid up čapital of 3. Required…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Subject: LAW ON PARTNERSHIP

_1. Term of a corporation.
_2. Paid up capital of corporation shall not be less than.
3. Required percentage of subscribed capital stock is
_4. The charter of a corporation is otherwise known as,
_5. The governing body of a stock corporation.
_6. The governing body of non-stock corporation.
_7. A person authorized to represent a stockholder who is absent in a
stockholders' meeting.
_8. A written authority authorizing another to represent a stockholder in a
meeting.
_9. Such number of the membership of a collective body as is competent to
transact its business or do any other corporate act.
_10. Three general powers of a corporation are.
_11.
_12.
_13. The right of a stockholder to be given priority to subscribed to new
capital stock of the corporation.
_14. The right of a stockholder to compel the corporation to pay for his/her
shares under certain circumstances.
_15. A portion of the corporation's profits for distribution to its
stockholder/members.
_16. Kinds of dividends are .
_17.
_18.
_19.
_20.
_21. An act which is beyond the conferred powers of a corporation or the
purpose for which it is created.
_22. Rules of action adopted by the corporation for its internal regulations.
_23. Two kinds of corporate meetings are.
_24.
25.
Written instrument signed by a corporate officer stating or
acknowledging that the person named therein is the owner of a designated number of shares of
its stocks.

Definition Definition Arrangement between two or more people whereby they agree to manage business operations and share its profits and losses in an agreed ratio. The agreement drafted and signed by the partners of the firm is termed as a partnership deed and contains various important clauses agreed between the partners such as profit/loss sharing, interest on capital, remuneration allocation of each partner, and drawings of a partner.

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