Answered: Requires that 25% of the authorized…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Related questions

Question

Financial Accounting and Reporting

From the given information indicate if this is a law under Corporation Code, Revised Corporation Code, Both, and Neither

1. Signatories of the Articles of Incorporation are the Incorporators and the Treasurer

a. Corporation Code of the Philippines

b. Revised Corporation Code of the Philippines

c. Applicable to Both

d. Not Applicable to Either

2. Requires that 25% of the authorized shares be paid up.

a. Corporation Code of the Philippines

b. Revised Corporation Code of the Philippines

c. Applicable to Both

d. Not Applicable to Either

3. Any natural person or juridical personality are allowed to become incorporators.

a. Corporation Code of the Philippines

b. Revised Corporation Code of the Philippines

c. Applicable to Both

d. Not Applicable to Either

Process of recording, summarizing, and analyzing financial information to prepare financial statements, and making them available to stakeholders, thereby enabling them to make an informed decision about the company. Financial reporting is an extension of financial accounting that deals with the presentation of financial information in accordance with the requirements of prescribed accounting standards.

Expert Solution