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The document presents several multiple choice questions related to corporations law. The questions cover topics such as capital stock, types of corporations, rules for non-stock corporations' meetings, dissolution of corporations, allowed professions for corporate practice, and amendments that can be made for a corporation experiencing difficulty getting a board quorum.

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Lorelie Necesito
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305 views

RFBT Reviewer

The document presents several multiple choice questions related to corporations law. The questions cover topics such as capital stock, types of corporations, rules for non-stock corporations' meetings, dissolution of corporations, allowed professions for corporate practice, and amendments that can be made for a corporation experiencing difficulty getting a board quorum.

Uploaded by

Lorelie Necesito
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
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Evaluate the following:

i. The improper use of information secured through any prior examination of the books and records is a defense available to the corporation
in any action filed by a person demanding theright to inspect

ii. Any person who shall abuse the right to inspect shall be penalized by a fine and a permanent cease-and-desist order shall be issued
against him. Which applies?

A. I is false.

B. Both are true.

C. Both are false,

D. I is true.

E. None of the above

It is the amount fixed in the articles of incorporation, to be subscribed and paid in by the shareholders of a corporation, either in money or
property, labor or services, at the organization of the corporation or afterwards and upon which it is to conduct its operations-

A. Capital stock.

B. Pald-up capital.

C. Outstanding capital stock.

D. Authorized capital stock.

E. Legal capital.

The following were presented to you for evaluation:

i. Mining corporations.

ii. Oll corporations.

iii. Banks.

iv. Educational institutions.

Which of the following may organize as a close corporation?

A. Only iv.

B. None of the above.

c. Only ii.

D. Only iii.

E. Only i.

A corporation which have accepted from the state the grant of a franchise or contract involving the rendition or performance of some public
duties or service, but which are organized for profit

A. Foreign corporation.

B. Civil corporation.

C. Quasi-public corporation.

D. Ecclesiastical corporation.

E. Stock corporation.

Evaluate the following:


i. If provided in the by-laws, the meetings of the members of non-stock corporations may be held anywhere within the Philippines.

ii. If provided in the by-laws, the meetings of the board of trustees may be held anywhere in or outside of the Philippines.

Which applies?

A. Both are false.

B. i is true.

C. Both are true.

D. None of the above:

E. i is false

The following rules are applicable to a corporation sole, EXCEPT:

A. It may be dissolved by filing a verified declaration of dissolution.B. None of the above.

C. In order for vacancies to be filled up in such corporation, it is necessary that the successor file to the SEC a certificate or letter of
appointment.

D. The issuance of the SEC of a certificate of incorporation is necessary to determine the commencement of its juridical personality.

E. Authority from the Regional Trial Court is necessary in case such corporation Intends to sell property.

false.

When is there voluntary dissolution of the corporation?

A. There is a failure to file by-laws.

B. There is a deadlock in a close corporation.C. There is continuous in-operation for five years.D. The corporate term is shortened.

E. None of the above.

The following professions are allowed to engage in corporate practice, EXCEPT:

A. Real estate service.

B. Forestry.

C. Psychology.

D. Geodetic engineering.

E. Landscape architecture

Which of the following is FALSE regarding a one person corporation?

A. A one person corporation shall not be required to have a minimum authorized capital stock for the operation of its business.

B. A one person corporation shall indicate the letters "OPC" either below or at the end of its corporate name.C. A one person corporation is not
required to submit and file corporate by-laws.

D. None of the above.

E. A single stockholder of a one person corporation cannot use his or her name as part of the corporate name

The articles of incorporation of Big Balls Corporation provides for 15 directors. Since it was very difficult for the corporation to muster a
quorum during meetings of the board, it submitted the following resolutions for approval of the stockholders:

i. A resolution to amend the articles of incorporation to reduce the number of directors from 15 to five.
ii. A resolution to amend the by-laws allowing the directors to attend by proxy. Which is/are the possible solutions to the problem of the
corporation?

A. Both resolutions are not possible.

B. None of the above.

C. Only resolution ii is possible.

D. Both resolutions are possible.

E. Only resolution is possible.

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