True or False. 2. A corporation can be formed by another corporation, association and natural persons. 3. The life of a corporate is set at 50 years. 4. A corporation is dissolved when a majority shareholder sells all his shares of stocks.
True or False.
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2. |
A corporation can be formed by another corporation, association and natural persons. |
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3. |
The life of a corporate is set at 50 years. |
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4. |
A corporation is dissolved when a majority shareholder sells all his shares of stocks. |
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5. |
A one person corporation just like a partnership has unlimited liability |
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6. |
A partnership is more complicated to organize than a sole proprietorship and corporation. |
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7. |
A shareholder cannot sell his interest without the consent of the other shareholders. |
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8. |
A shareholder or member has the right to inspect the books of the corporation. |
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9. |
Any corporation should be organized by at least 5 persons |
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10. |
Capital and capital stock are synonymous. |
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11. |
Management oversight of a corporation is vested on the board of directors |
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12. |
Ordinary and arrears. |
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13. |
Outstanding shares are issued shares. |
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`14. |
Par value shares may be issued at less than P 5/share. |
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15. |
Preference and ordinary shares have voting rights. |
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16. |
Securities and Exchange Commission is a government body that regulates the operation of a corporation. |
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17. |
Share certificates are documents that evidence the rights of ownership of shareholders. |
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18. |
Shares of stocks of a close corporation may be traded in the stock exchanges. |
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19. |
The Revised Corporation Code requires corporations to have minimum capitalization. |
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20. |
The shareholders have the right to adopt and amend by-laws |
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21. |
Treasury shares are shares under the names of the shareholders. |
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