True or False 1. 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 formed for the government of a portion of the state
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- 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 corporate business or to intervene in the management of the business. 9. A corporation can come into existence by mere agreement of the parties as in the case 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…Topic: Introduction to Corporation True or False1. A corporation can be a general partner in a partnership.2. The board of directors shall exercise the corporate powers of a corporation.3. A public corporation is one formed for the government of a portion of the state.4. All incorporators are subscribers, but a subscriber need not be an incorporator.5. A partnership can be a corporator in a corporation.6. A corporation can come into existence by mere agreement of the partnership as in the case ofpartnerships.7. A corporation can be held liable for personal indebtedness of a shareholder.8. Shareholders may be natural or juridical persons.9. The board of directors is responsible for the formulation and implementation of the overallpolicies for the corporation.10. Eleemosynary corporations are those organized for public charity.11. A corporation is an artificial being with personality separate and apart from its individualshareholders or members.12. A corporation has continuity of…Introduction to Corporation Answer: True or False
- 2. Limited liability is an important feature of: A. CorporationsB. Both partnerships and corporationsC. Sole proprietorshipsD. Partnerships 4. The ultimate financial goal of a corporation is to: A. maximize the value of the corporation to the stockholders.B. increase size of the firm.C. minimize stockholder risk.D. maximize profit. 7. Shareholders of a corporation may be, among others, A. pension funds.B. individuals, pension funds, and insurance companies.C. individuals and pension funds.D. individuals.HELP ME ACCOUNTING CORPORATION TRUE OR FALSE. BASED ON PHILIPPINE LAW, RULES OR STANDARD. THANKSSubject: Law on Partnership and Corporations
- S1 A partnership is allowed to become a shareholder of a corporation. S2 A shareholder is allowed to become a partner of a partnership. a. Both statements are true b. Both statements are false c. One statement is true, and the other one is false S1 A corporation’s by-laws are the same as its articles of incorporation. S2 The share certificate is issued upon subscription of the share capital. a. Both statements are true b. Both statements are false c. One statement is true, and the other one is falseS1 A Public Corporation is one formed for the government of a portion of the state. S2 All incorporators are subscribers but a subscriber need not be an incorporator. a. Both statements are true b. Both statements are false c. One statement is true, and the other one is false S1-Shareholders elect board of directors which appoints the management of the corporation. S2 -The Par value shares constitute the legal capital of a corporation. a. Both statements are true b. Both statements are false c. One statement is true, and the other one is falseWhich business entity could have common stock authorized? O A. a sole proprietorship O B. a partnership O C. a limited liability company O D. a corporation O E. All of the above could theoretically have common stock authorized.
- Match each of the following stockholders' equity concepts to the appropriate term (a – h). Question 41 options: limited liability public corporation corporation dividends articles of incorporation private corporation board of directors bylaws 1. Document which formally creates a corporation 2. Creditors cannot pursue stockholders' personal assets to satisfy claims 3. The rules and procedures 4. A legal entity, separate from the people who create and operate it 5. A company whose shares can be bought and sold in public markets 6. Group which meets periodically to establish corporate policies 7. A company whose shares are not bought or sold in public markets 8. Corporate income distributed to stockholdersWhich among the following form of business organization can issue shares to the general public? a. Partnership firm b. Limited Liability Company c. Public limited company d. Private companySubject: Law on Partnership and Corporations