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Statement I: A no-par share capital shall be issued for a consideration of not less than five pesos. Statement II: All the entire consideration received
Statement I: A no-par share capital shall be issued for a consideration of not less than five pesos. Statement II: All the entire consideration received by the corporation for its no-par value shares shall be treated as capital and shall not be available for distribution as dividends.
Group of answer choices
A. Statement I is true; Statement II is false
B. Statement I is false; Statement II is true
C. Both statements are true
D. Both statements are false
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