12. Corpuz, Inc. has issued 200,000 shares of P1 par value ordinary shares at P15. If it repurchases 5,000shares during 2016 at P20, a. profit would decrease by P25,000. b. profit would decrease by P100,000 C. shareholders' equity would decrease by P25,000. d. shareholders' equity would decrease by P100,000. 13. The number of shares issued is equals a. authorized shares minus treasury shares. b. outstanding shares plus treasury shares. c. unissued shares minus authorized shares. d. subscribed shares plus outstanding shares. 14. A corporation's residual equity is its a. ordinary and preference share. b. preference share. c. ordinary shares. d. creditors. 15. Which of the following is not included in Share Capital? a. Ordinary Shares. c. Shares Distributable. b. Donated Capital. d. Appropriated Retained Earnings. 16. In a liquidation, the liabilities of the partnership should be paid a. Before and sales of assets. b. Before the distribution of cash to partners. c. Before the distribution of gains and losses on the disposal of assets. d. After a revaluation of assets. 17. Claims against partners' personal assets by creditors if the partnership can't pay its debts refers to a. liquidation. c. mutual agency. b. dissolution. d. unlimited liability. 18. The following are the requisites of organizing a primary cooperative: a. Of legal age. b. Having a common bond of interest. c. Are actually residing or working in the intended area of operation. d. Fifteen or more natural or juridical persons. 19. A cooperative which combines 2 or more of the business activities of these different types of cooperatives. a. Multipurpose cooperative c. Single line cooperative b. Advocacy cooperative d. Agrarian Reform cooperative