corporation whether it is intra- or ultra-vires: a. To borrow part of its capital from the Asian Development Bank: _______ b. Donate P30M campaign funds to a presidential candidate:_________ c. Offers “Ponzi” or pyramiding scheme, promising to “double your investments in 3 months”:________ d. Buying and selling property mortgaged to it as security, after default and foreclosure:_________ e. Invest in a corporation engaged in exploitation of natural gas in Malampaya:_________
corporation whether it is intra- or ultra-vires: a. To borrow part of its capital from the Asian Development Bank: _______ b. Donate P30M campaign funds to a presidential candidate:_________ c. Offers “Ponzi” or pyramiding scheme, promising to “double your investments in 3 months”:________ d. Buying and selling property mortgaged to it as security, after default and foreclosure:_________ e. Invest in a corporation engaged in exploitation of natural gas in Malampaya:_________
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
A corporation is registered in the Philippines for a specific purpose of lending money to investors. Determine the following acts of the corporation whether it is intra- or ultra-vires:
a. To borrow part of its capital from the Asian Development Bank: _______
b. Donate P30M campaign funds to a presidential candidate:_________
c. Offers “Ponzi” or pyramiding scheme, promising to “double your investments in 3 months”:________
d. Buying and selling property mortgaged to it as security, after default and foreclosure:_________
e. Invest in a corporation engaged in exploitation of natural gas in Malampaya:_________
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