True or False?

1. Corporations are created by agreements of individuals.
2. Right of succession as an attribute implies immortality.
3. Its personality is separate and distinct from the members, shareholders, directors, trustees or corporate officers comprising it.
4. Doctrine of Separate Entity implies a legal fiction also known as "Alter Ego" doctrine.
5. Property acquired by a corporation is the property of a corporation and not the property of stockholders or members.
6. Private corporations are formed under the grant of the State through a general enabling law.
7. Government owned and corporations are also private corporations formed under a special law referred to as a charter.
8. All corporators are incorporators, but not all incorporators are corporators.
9. Stockholders are owners of shares of stock in a stock corporation.
10. Members of a corporation are entitled to share in the division of corporate profits.
11. De Jure corporation are those formed in strict compliance with mandatory statutory requirements for incorporation.
12. A Subsidiary corporation is one that holds stocks in another corporation for purposes of control.
13. Presently, corporations are governed by Batas Pambansa Blg. 68.
14. A promoter is a person who brings about the formation and organization of a corporation by bringing together persons interested in the enterprise.
15. Public corporation is organized for the government of a portion of the State for the general good and welfare.