PLEASE ANSWER THE FOLLOWING I PROMISE TO RATE IT
Item 1 of 30 Which of the following entities may be in porated as OPC? Select the correct response: Public and publicly-listed companies A CPA, for the purpose of selling his best-seller merienda treats. Pre-need, trust, insurance companies Banks and quasi-banks Statement 1: if the OPC fails to submit its self-dealings and related party transactions with the single stockholder, as provided by Sec. 129 of RA 11232, for Statement 2: If the OPC fails to submit Annual Financial Statements, as provided by Sec. 129 of RA 11232, for three times within a five-year period, the OPC will be placed on delinquent status. Select the correct response: True, True False. True True, False False, False Item 3 of 30 It is incorporated by one person and consists of one member or corporator only and his successors. Select the correct response: One-person corporation Corporation sole Religious corporation Religious society Item & at 70 Tube. True Fubc. Ful Statement 1: Each member of a non Statement 2: Cumulative voting may be authorized in the articles of incorporation or the by-laws. False. False True. False False. True True, True Item 6 of 30 Statement 1: A non-stock corporation is tantamount to a non-profit corporation. Statement 2: A stock corporation is tantamount to a for-profit corporation. Select the correct response: True. True False. False False. True True, False s to undergo the process of dissolution, which of the following is given the top priority? Select the correct response: Assets teren defined by the corporat jon requiring return transfer orange evance by reason of the dissolution shall be transferred or conveyed to one (1) or more corporations, societies or organizations engaged in activities in the Philippines substantially similar to those of the dissolving corporation according to a plan of distribution adopted pursuant to Chapter Ill, Title XI of RA 11232. All liabilities and obligations of the corporation shall be paid, satisfied and discharged, or adequate provision shall be made therefor. Assets other than those mentioned in the preceding paragraphs, if any, shall be distributed in accordance with the provisions of the articles of incorporation or the bylaws, to the extent that the art or classes of members, or provide for distribution. to the extent that the articles of incorporation of the bylaws determine the distributive rights of members, or any class Assets held by the corporation upon a condition requiring return, transfer or conveyance, and which condition shall be returned, transferred or conveyed in accordance with such requirements. tem 8 of 30 If the petition of a stockholder in a close con on, the SEC may make an order, except Cancelling, altering or enjoining any resol cknolaers, or officers. Appointing an initially provisional d manent director by way of 2/3 vote of the outstanding capital stock Cancelling or altering any provision in the Dissolving the corporation Item 9 of 30 Which of the follow wed to hold ? Select the correct response: President Corporate Secretary Sole Directo O Treasurer Item 10 of 30 Statement 1: In an OPC, the President can be the Treasurer of the corporation. Statement 2: In an ordinary stock corporation, the President can be the Treasurer of the corporation. Select the correct response: True, True False, True True, False False, False Item 11 of 30 Statement 1: An OPC is required to submit and file its Articles of Incorporation. Statement 2: An OPC is required to submit and file its by-laws Select the correct response: O True, True False. True True, False False, False Item 12 of 30 1 Pol which of the following is not a rule for non-stock ed al corporations, as provided by Section 106 of the Revised Corporation Code? Select the correct response Unless otherwise provided in the articles of incorporation of by-laws, the board of trustees of incorporated schools, colleges, or other institutions of learning shall, as soon as organized, so classify themselves that the term of office of five trustees shall expire every year. Trustees of educational institutions organized as nonstock corporations shall not be less than five nor more than fifteen. Trustees thereafter elected to fill vacancies, occurring before the expiration of a particular term, shall hold office only for the unexpired period. Trustees elected thereafter to fill vacancies caused by expiration of term shall hold office for five (5) years. The number of trustees shall be in multiples of five
