TRUE OR FALSE

1. The subscribed capital stock of a corporation must be paid up prior to incorporation
2. The principal office of a corporation is also its principal place of business
3. It is to the principal office of a corporation that orders, letters and correspondences of government agencies are expected to be sent
4. The purposes of a corporation although allowed to be stated in general terms must still be definite
5. The publication of a law to be complete must be done either in the Official Gazette or in a newspaper.
6. If a corporation has several purposes, the said purposes should be lawfully combined
7. Before incorporators will prepare the articles of incorporation, the name intended for the prospective corporation must be verified and reserved first
8. Treasury shares are in essence proof that a corporation has earned profits which it could invest in its own stocks.
9. The Articles of Incorporation serves as the charter of the corporation
10. Holder of non-voting shares participate in the voting on matters that have something to do with acts of ownership or constituent matters in the corporation.
11. Founder's shares partake of the nature of preferred shares.
12. Redeemable shares partake of the nature of indebtedness of the corporation and should be paid only when the corporation has profits in order to preserve the capital stock of a corporation
13. The issued portion of the capital stock of a corporation forms part of the outstanding capital stock of the corporation.
14. Preferred shares are often non-voting shares which are issued without par value Shares of stocks that are issued with no par value need be paid in full at the time of subscription
15. It presumed that a corporation receives a minimum of Php 5.00 in subscription from each share of no par value share that it issues.
16. The subscribed capital stock of a corporation must be paid up prior to incorporation
17. The capital stock of a corporation represents the equity of the stockholders in the assets of the corporation.