Quiz 08.docx - Quiz 08 Which of the following distinguishes a stock corporation from a non-stock corporation Voting by mail may be allowed in Articles

Quiz 08.docx - Quiz 08 Which of the following distinguishes...

This preview shows page 1 out of 1 page.

Quiz 08 Which of the following distinguishes a stock corporation from a non-stock corporation Voting by mail may be allowed in Articles of Incorporation Statement 1. A close corporation is a business organization which all shares are held by a few selected persons Statement 2. Most of the stockholders of a close corporation are inactive in the corporate business Statement 1 is true: Statement 2 is false Statement 1. In a close corporation, corporate powers may be exercised by stockholders Statement 2. In a regular corporation, only to board of directors exercise corporate powers Statement 1 is true: Statement 2 is true Which of the following distinguishes a non-stock corporation from a stock corporation Members cannot exercise appraisal rights A foreign corporation is a company formed, organized or existing under any law other than those of the Philippines, and whose law allow Filipino citizens and corporation to do business in its own country or state. True Statement 1. A non-stock corporation is an organization that does not have a capital stock, any profit it may obtain shall be distributed equally to the members Statement 2. A non-stock corporation is an organization that issues dividends Statement 1 is false: Statement 2 is false Which of the following statements describes a close corporation? Preemptive right extends to treasury shares For application for license, within 60 days from the issuance of the license, foreign corporation shall deposit bonds at least P10,000. False If the stockholders manage the business of a close corporation, The stockholders shall be deemed directors Failure to pay any and all taxes, imposts, assessments or penalties cannot revoke or suspend the license. False

  • Left Quote Icon

    Student Picture

  • Left Quote Icon

    Student Picture

  • Left Quote Icon

    Student Picture