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 corporation
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 corporation
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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1. From among the list, what is the difference between a
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 corporation
2. When the Securities and Exchange Commission disapproves the amended Articles of Incorporation, what is the available remedy of the Corporation?
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 escaped and went abroad without any date of return. The Securities and Exchange Commission found out about how A escaped his liability so it ordered the dissolution of the partnership. What kind of dissolution is applied?
2. 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
a. Judicial
b. Extrajudicial
c. By operation of law
d. None of the above
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