S1-Shareholders elect board of directors which appoints the management of the corporation.

S2 -The Par value shares constitute the legal capital of a corporation.

Both statements are true

Both statements are false

One statement is true, and the other one is false

S1 A Public Corporation is one formed for the government of a portion of the state.

S2 All incorporators are subscribers but a subscriber need not be an incorporator.

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Both statements are false

One statement is true, and the other one is false

S1 The Corporation will always issue all the delinquent shares to the highest bidder which are partially paid.

S2 Shareholders own the business and manage the day-to-day affairs of the corporation.

Both statements are true

Both statements are false

One statement is true, and the other one is false

S1 Shares as donated capital when subsequently sold will increase the shareholders equity by the total par value of the donated capital.

S2 When shares are acquired as treasury shares, these will reduce the number of issued shares,

Both statements are true

Both statements are false

One statement is true, and the other one is false

S1 Treasury shares are not entitled to receive dividend.

S2 Treasury shares may either be ordinary or preference.

Both statements are true

Both statements are false

One statement is true, and the other one is false

S1 The premium on the shares subscribed shall be recorded at the date of issuance of share certificate.

S2 Treasury share are stated at acquisition cost and are treated as deduction from shareholders equity.

Both statements are true

Both statements are false

One statement is true, and the other one is false