TRUE OR FALSE

11. Due to financial muscle, a corporation is in a better position to attract able and competent executives than a sole proprietorship or a partnership.

12. A certificate of stock is a personal property that can be pledged and/or mortgage.

13. The birthday of the corporation is the date when the Securities and Exchange Commission issues the Articles of Incorporation.

14. Non-user of Corporate Franchise for a period of five (5) years from the date of incorporation provides a ground for the filing of a petition for dissolution of the said corporation.

15. Continuous non-operation for a period of five (5) years is a ground for the suspension or revocation of its corporate franchise and its certificate of incorporation.

16. Only a natural person can be an incorporator of a corporation.

17. A corporation as a natural entity cannot be made as an incorporator of another corporation

18. A married woman cannot be an incorporator without the consent of the husband, if it involves the common property under the system of absolute community property.

19. Any person of legal age as long as he owns at least one share of stock is qualified as incorporator.

20. The residence of the corporation is the place where any of its branch is situated.