1.A corporation might repurchase its own stock for all of the following reasons except to

a.improve financial ratios.

b.use for the board of directors.

c.use for employee compensation.

d.deter a takeover attempt.

2.The corporate officers are

a.elected by shareholders.

b.appoiinted by the board of directors.

c.appointed by management.

d.elected by incorporators.

3.When a corporation issues new ordinary shares, which of the following WILL NOT increase?

a.Net worth

b.Total liabilities

c.Quick assets

d.Total assets

4.When organizing a corporation, the incorporators submit articles of incorporation to

a.the local government unit.

b.the Securities and Exchange Commission.

c.the Department of Trade and Industry.

d.the Bureau of Internal Revenue.

5.Authorized shares are the

a.number of shares that are owned by shareholders at the balance sheet date.

b.number of shares the corporation has repurchased.

c.number of shares that have been distributed to shareholders.

d.total number of shares that can be issued by the corporation at any time.

6.On the statement of financial position, a corporation must disclose all of the following EXCEPT the

a.issued.

b.authorized.

c.outstanding.

d.unissued.

7.The par value of ordinary shares is equal to

a.the amount at which the shre is currently trading in an organized market.

b.a designated peso amount per share established in the articles of incorporation.

c.the amount received by the corporation when the share was originally issued.

d.the book value of the ordinary shares.

8.Treasury stock is considered as

a.authorized and unissued shares.

b.authorized and issued shares.

c.issued and outstanding shares.

d.unissued and outstanding shares.

9.Which of these is not a right of an ordinary shareholder?

a.Attend the annual shareholders' meeting

b.Share in profits

c.Receive part of the profit before other classes of shares

d.Receive information about the corporation

10. This is the right of the corporation to continue as a juridical entity for a period stated in the articles of incorporation despite the death of any shareholder.

a.Right of existence

b.Right of pre-emption

c.Right of succession

d.None of the above