29. Which of the following Board Committee of a publicly-listed company is 1 point tasked to oversee the periodic performance evaluation of the Board and its Committees as well as executive management, and conducts an annual self-evaluation of its performance? 0 A. Audit Committee 0 B. Risk versight Committee 0 C. Related Party Transactions Committee 0 I}. Corporate Governance Committee 30. Which of the following acts could be ratified by a vote representing at 1 point least Zf of the outstanding capital stock? 0 A. Acquisition of a business opportunity which should belong to the corporation thereby acquiring prot which should belong to the corporation 0 B. Acts of directors or trustees who are guilty of gross negligence or bad faith in directing the affairs of the corporation. 0 B. An attempt by a director to acquire an actual acquisition of any interest adverse to that of the corporation in respect of any matter reposed upon in confidence. 0 D. Acts of directors constituting an approval of patently unlawful acts. 31. The plan of merger/consolidation must be approved by: 1 point O A. Majority vote of BOD/BOT of the acquiring corporation and 2/3 of the outstanding stock O B. Majority vote of BOD/BOT of the constituent corporations and majority of the outstanding capital stock each constituent corporation O C. Majority vote of BOD/BOT of the constituent corporations O D. Majority vote of BOD/BOT of the constituent corporations and 2/3 of the outstanding capital stock of each constituent corporation 32. Which of the following statements is true? 1 point A. Merger/consolidation becomes effective upon approval by the stockholders O B There is no need for the absorbed corporation in a merger to undertake dissolution and winding up ) C The plan of merger and articles of merger are one and the same O D The right of creditors upon the property of constituent corporations will be impaired by the merger35. 10 high school friends formed AMB, Inc. to sell ready-to-wear clothes. 1 point The Articles of Incorporation provided that the business of the corporation shall be managed by the stockholders rather than by a board of directors. Chen, one of the 10 high school friends/stockholders, was disappointed of the way the affairs of the corporation are being managed and demanded that all of the 10 stockholders convene to elect Board of Directors. Can Chen demand that a stockholders meeting be called to elect directors of the corporation? O A. No, because AMB, Inc. is a close corporation and its AOI precludes a stockholders meeting to elect directors B. Yes, it is her right as a stockholder. C. Yes, otherwise the corporation may be dissolved O D. No, a majority of the stockholders must demand for the stockholders meeting in order to be valid33. Which of the following cannot be a close corporation? 1 point A. Banks O B. Insurance companies O C. Educational institutions O D. All of the above 34. The following statements are false, except: 1 point A. The membership in a non-stock corporation is transferable B. The vote of a member in a non-stock corporation may be denied C. The term of the Board of Trustees is 1 year O D A non-stock corporation is not allowed to earn profit