Question 13

1pts

Which of the following can be an incorporator of a corporation?

i. Any person

ii. Partnership

iii. Association

iv. Corporation

Group of answer choices

i and iv only

i, ii, iii, iv

i only

i, iii, and iv

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Question 14

1pts

Corporation X has a statement of capital stock in its articles of incorporation but it was stated in the same articles that dividends are not supposed to be declared, that is, there is no distribution of retained earnings. Corporation X is:

Group of answer choices

Corporation by estoppel

Stock corporation

Non stock corporation

Corporation by prescription

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Question 15

1pts

Three (3) of the following are attributes of a corporation. Which is the exception? (Phil CPA, 89-1)

Group of answer choices

Created by agreement of the corporation.

An artificial being

Has power, attributes and properties expressly authorized by law or incident to its existence.

Has the right of succession

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Question 16

1pts

The articles of incorporation differ from the by-laws in that the articles of incorporation are:

Group of answer choices

adopted before or after incorporation.

the rules of action adopted by a corporation for its internal government.

a condition precedent in the acquisition by a corporation of a juridical personality.

approved by the stockholders if adopted after incorporation.

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Question 17

1pts

Corporations organized by private persons performing public function and for profits to private person are: (Phil CPA, 89-2)

Group of answer choices

Private Corporation

Quasi-Public Corporations

Government Controlled Corporations

Public Corporations

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Question 18

1pts

Which of the following will not qualify as incorporator of a corporation?

Group of answer choices

Partnership

A minor

A corporation.

Association

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Question 19

1pts

In the amendment of the Articles of Incorporation of a stock corporation, the following is necessary: (Phil CPA, 86-2; 96-2-M)

Group of answer choices

Answer not given

Amendment by a vote of 2/3 of the stockholders.

Amendment by the majority vote of the Board of Directors plus a vote or written assent of the stockholders representing at least 2/3 of the outstanding capital stock.

Amendment by a majority vote of the Board of Directors.

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Question 20

1pts

It is a principle in the creation of corporations, under which a corporation is an artificial creature without any existence until it has received the imprimatur of the State acting according to law, through the SEC.

Group of answer choices

Concession Theory

Economic unit Theory

Gennosenshaft Theory

Theory of corporate enterprise