REVISED CORPORATION LAW

1.) Corporation which is public in character but private in purpose:

A.) Corporation

B.) De facto corporation

C.) Non-stock corporation

D.) GOCC

E.) Close corporation

2.) Shares which have been lawfully issued by the corporation and fully paid for and later reacquired it either by purchase, redemption, donation, forfeiture or other lawful means:

A.) Treasury shares

B.) Redeemable shares

C.) Delinquent shares

D.) Stock options

3.) The following are causes for suspension or revocation of certificate of registration of a corporation, EXCEPT:

A.) fraud in procuring certificate of registration

B.) continuous inoperation for 2 years

C.) serious misrepresentation to the damage of the general public

D.) defiance of any lawful order of the SEC

4.) Which among the following is not a valid issue value of a no par value share?

A.) Php 0.50

B.) Php 5.00

C.) Php 50.00

D.) Php 500.00

5.) A corporation has a juridical personality separate and distinct from that of its stockholders or members:

A.) Doctrine of Corporate Entity

B.) Doctrine of Equality of Shares

C.) Doctrine of Piercing the Veil of Corporate Fiction

D.)Trust Fund Doctrine

E.) Dummy Doctrine

6.) This doctrine allows the State to disregard the separate juridical personality of the corporation where the entity is formed or used for non-legitimate purposes.

A.) Doctrine of Corporate Entity

B.) Doctrine of Equality of Shares

C.) Doctrine of Piercing the Veil of Corporate Fiction

D.) Trust Fund Doctrine

E.) Dummy Doctrine

7.) The capital of the corporation must not be dissipated for the purpose of payment of corporate obligations and liabilities.

A.) Doctrine of Corporate Entity

B.) Doctrine of Equality of Shares

C.) Doctrine of Piercing the Veil of Corporate Fiction

D.) Trust Fund Doctrine

E.) Dummy Doctrine

8.) Where the Articles of Incorporation do not provide for any distinction of the shares of stock, all shares issued by the corporation are presumed to be equal and enjoy the same rights and privileges and are also subject to the same liabilities.

A.) Doctrine of Corporate Entity

B.) Doctrine of Equality of Shares

C.) Doctrine of Piercing the Veil of Corporate Fiction

D.) Trust Fund Doctrine

E.) Dummy Doctrine

9.) Where the corporation is controlled by aliens, this is in violation of the law as where it was organized under Philippine laws

A.) Doctrine of Corporate Entity

B.) Doctrine of Equality of Shares

C.) Doctrine of Piercing the Veil of Corporate Fiction

D.) Trust Fund Doctrine

E.) Dummy Doctrine

10.) The following are qualifications of incorporators except:

A.) Natural or artificial persons

B.) Must own at least one share of stock, if stock corporation

C.) Must be of legal age, if natural person

D.) Majority must be citizens of the Philippines

E.) None of the above

11.) Persons who, acting alone or with others, take initiative in founding and organizing the business or enterprise of the issuer and receive consideration therefor

A.) Incorporators

B.) Stock/Shareholders

C.) Corporators

D.) Promoters

E.) Members

12.) Those mentioned in the article of Incorporation as originally forming and composing the corporation

A.) Incorporators

B.) Stock/Shareholders

C.) Corporators

D.) Promoters

E.) Members

13.) Comprise the corporation whether as stockholders or members:

A.) Incorporators

B.) Stock/Shareholders

C.) Corporators

D.) Promoters

E.) Members

14.) Owners of shares in a corporation which has a capital stock:

A.) Incorporators

B.) Stock/Shareholders

C.) Corporators

D.) Promoters

E.) Members

15.Corporators of a corporation which has no capital stock:

A.) Incorporators

B.) Stock/Shareholders

C.) Corporators

D.) Promoters

E.) Members

Moira's Fruit Wine is planning to expand the amount of wine bottle inventory they are holding, and are evaluating two plans to finance the additional inventory. The required additional financing for the inventory is $100,000. Plan A would finance 80% of the inventory using long term financing, and the other 20% using short term financing. Plan B would finance $35,000 of the inventory using long term financing, and the remainder using short term financing. Annual interest rates are currently 5% for short term financing, and 8% for long term financing. Compute the interest expense cost of both plans. Provide a brief comment on which plan is more aggressive. (6 marks)What is the difference between internally financed debt to externally financed debt? Describe one negative consequence for each internally financed debt and externally financed debt. HTML Editor BIYA A . TE = = ] E X X 3 OKSAVO 12ptIf YourFace Incorporation does not pay of creditors, has an alter ego, does not act like a corporation, uses corporate funds to pay personal funds or commits fraud, the court may do which of the following? CORPORATE FRAUD O a. No. Under the Model Act, regardless of MegaCorp's motives, it had the right to act as it did. O b. Pierce the corporate veil O C. Replace the officers. O d. Terminate the corporation.1. Which of the following is true with respect to the separate legal entity characteristic of incorporation? E Shareholders are only exposed to liability if the court "lifts the corporate veil". b. It protects shareholders from liability in all circumstances. C. The purchase and sale of shares can be completed without interfering with the operation of the business. d. It is irrelevant for the purpose of taxation. e. As a corporation is not a natural person, it cannot be convicted of a crime.Practice Question Enter your answer to each question in the space provided. Click on the button marked "Check Answer" to see if you are correct. Siamese Fighting Fish (Betta splendens) normally have short, rounded tails. Hobbyists have developed a variant that has a long, drooping "veil" tail. When pure breeding round-tailed fish are bred with pure breeding veil-tailed fish the progeny all have veil tails. When F1 progeny from such a cross were self-crossed, the F2 generation consisted of 63 veil-tailed fish and 25 round-tailed fish. Which phenotype is dominant? Veil tail Check Answer What percentage of the F1 progeny are expected to be heterozygous? % Check Answer What percentage of the F2 round-tailed progeny are expected to be heterozygous? % Check Answer What percentage of the F2 veil-tailed progeny are expected to be heterozyg %% Check