TRUE OR FALSE 5. A partnership can be corporator in a corporation. 6. A shareholder in a corporation does not have the right to transact corporate business or to intervene in the management of the business. 7. A corporation can come into existence by mere agreement of the parties as in the case of partnerships. 8. Eleemosynary corporations are those organized for public charity. 9. Shares of stock cannot be transferred without the consent of the other shareholders. 10. Shareholders may be natural or juridical persons. 11. Death of s shareholder will dissolve the corporation. 12. A de jure corporation is a corporation existing in fact and in law. 13. Shares without par may be issued for a consideration less than P5.00 per share. 14. A corporation may be an incorporator but not a corporator.

TRUE OR FALSE 5. A partnership can be corporator in a corporation. 6. A shareholder in a corporation does not have the right to transact corporate business or to intervene in the management of the business. 7. A corporation can come into existence by mere agreement of the parties as in the case of partnerships. 8. Eleemosynary corporations are those organized for public charity. 9. Shares of stock cannot be transferred without the consent of the other shareholders. 10. Shareholders may be natural or juridical persons. 11. Death of s shareholder will dissolve the corporation. 12. A de jure corporation is a corporation existing in fact and in law. 13. Shares without par may be issued for a consideration less than P5.00 per share. 14. A corporation may be an incorporator but not a corporator.

Income Tax Fundamentals 2020

38th Edition

ISBN:9780357391129

Author:WHITTENBURG

Publisher:WHITTENBURG

Chapter11: The Corporate Income Tax

Section: Chapter Questions

Problem 12MCQ

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