1. When a corporation is to have committed an ULTRA VIRES ACT, it exercises

a. Powers expressly granted by law

b. Powers incident to its existence

c. Powers outside or beyond that expressly granted by law incident to its existence

d. All of the above.

2. In a collection case by Fundamentals, Inc. against Nina Antonina, the latter may, to avoid liability, raise the defense that Fundamentals, Inc. is a de facto corporation without the capacity to enter into any contract or to sue her

a. False

b. True

3. A corporation that results from a bona fide but failed attempt to organize as a corporation under the law and actually exercising corporate powers in good faith

a. By estoppel

b. By prescription

c. De jure

d. De facto

4. The Polytechnic University of the Philippines is governed primarily

a. By the Corporation Code and only suppletorily by its charter or the law which created it.

b. By its charter or the law which created it the Corporation Code its charter and only suppletorily by the corporation code.

c. By the Civil Code and only suppletorily by the Corporation Code.

d. None of the above

5. In merger, the surviving corporation acquires all the assets, liabilities, and capital stock of all constituent corporations

a. False

b. True

note: this is based on Philippine law