Miyerkules, Agosto 23, 2023

Business Laws and Regulation

 



















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Question 10

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This is a financial statement that summarizes a company's assets, liabilities and shareholders' equity at a specific point in time.
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Question 9

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This contains the records of all stocks in the names of the stockholders alphabetically arranged; the installment paid and unpaid on all stock for which subscription has been made, and the date of payment of any installment; a statement of every alienation, sale or transfer of stock made, the date thereof, and by and to whom made; and such other entries as the by-laws may prescribe.
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Question 8

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An officer of the corporation, without any reason, refuses to allow a director the corporation to examine and copy excerpts from its records or minutes. What are the possible liabilities of such officer to the director?
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Question 7

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The constituent corporations shall be dissolvd and a new consolidated corporation will emerge into new corporate entity which shall obtain all the assets of the disappearing corporations, as well as all their liabilities.
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Question 6

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Subscribers for stock shall pay to the corporation interest on all unpaid subscriptions from ________________________.
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Question 5

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A contract for the acquisition of unissued stock in an existing corporation or a corporation still to be formed shall be deemed a ___________.
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uestion 4

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This is a financial statement that reports a company's financial performance over a specific accounting period.
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Question 3

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The board of directors may, by resolution, order the sale of delinquent stock and shall specifically state the amount due on each subscription plus all accrued interest, and the date, time and place of the sale which shall not be less than ____________ nor more than __________ from the date the stocks become delinquent.
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Question 2

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The primary office of ABC Inc. is located at Mandaluyong City, it also have a branches in Makati City and Quezon City. The minutes of meetings of the board of directors are kept at ______________.
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Question 1

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It is borne by the stockholderif the value is determined by the approximately the same as the price offered by the corporation, and where an action to recover is filed and the refusal of such stockholderto eceive payment I justified.
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Question 10

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Director is liable for dividends unlawfully received.
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Question 9

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No certificate of stock shall be issued to a subscriber until he has paid the full amount of the subscription, the interest and expenses, if any is due.
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Question 8

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ABC. Company is a stock corporation in Iloilo City, which of the following statements is not allowable?
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Question 7

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Watered stocks is a written acknowledgement of the stockholders interest in the management, profit, and assets of the corporation.
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Question 6

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Mr. A pledged his stocks to Mr. B. Who has the right to vote?
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Question 5

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The following are statements describing the requisites of valid by-laws, which is not included?
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Question 4

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Which of the following statements may describes a voting trust?
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Question 3

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Which of the following statements is wrong?
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Question 2

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Identify the correct statement
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Question 1

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Statement 1. Majority vote of Board of Directors is required to call a meeting for the purpose of amending the by-laws
Statement 2. Affirmative vote of majority of the stockholders or members is required to amend the by-laws
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Question 10

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Those issued for no value at all or for a value less than the par value of the stock.
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Question 9

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Which of the following is/are included in the company by-laws?
I. Place of special meeting of directors
II. Manner of calling a regular meeting of directors
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Question 8

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This is the corporation's written acknowledgement of the stockholder's interest the management, profits, and assets of the corporation.
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Question 7

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No voting trust agreement shall be entered into for the purpose of ______________________________against monopolies and illegal combinations in restraint of trade or used for purposes of fraud.
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Question 6

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Which of the following is/are included in the company by-laws?
I. The time for holding the annual election of directors or trustees and the mode of manner of giving notice thereof
II. The manner of election of all officers other than directors or trustees
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Question 5

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Luzviminda borrowed from Noejen. In exchange for the money, Luzviminda guaranteed her shares of stock to Noejen.
Who is the pledgor?
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Question 4

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It is an offer to acquire a specified number of unissued shares of an existing corporation or a corporation that is still to be formed.
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Question 3

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Luzviminda borrowed from Noejen. In exchange for the money, Luzviminda guaranteed her shares of stock to Noejen.
Who is the pledgee?
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Question 2

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Which of the following is/are included in the company by-laws?
I. Qualifications of employees
II Duties of the Board of Trustees
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Question 1

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Which of the following is/are included in the company by-laws?
I. Time of regular meeting of members
II. Manner of conducting special meeting of members
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Question 10

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Statement 1. A director must be a stockholder
Statement 2. A trustee must be a stockholder
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Question 9

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Directors or Trustee may conduct regular or special meetings.
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Question 8

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In proxy, principal does not cease to become stockholder.
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Question 7

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Statement 1. Express Powers are powers expressly granted to a corporation by its charter.
Statement 2. Implied Powers are powers which are necessary to exercise the express powers and to accomplish or carry out the purpose for which the corporation was formed.
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Question 6

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Statement 1. A president of a corporation must be a director
Statement 2. A treasurer of a corporation may not be a director
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Question 5

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Statement 1. The members of the board of directors are jointly and severally liable
Statement 2. The members of the board of trustees are jointly and severally liable if they are guilty of gross negligence or bad faith in directing the affairs of the corporation if they acquire any personal or pecuniary interest in conflict with their duty
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Question 4

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Which of the following situations is not allowable in a corporation
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Question 3

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In proxy, agreement is irrevocable..
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uestion 2

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Which is not included in the group?
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Question 1

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Statement 1. Report the results of the election of the members of the board of directors to the SEC, within forty days after such event
Statement 2. For the election of the board of directors, there must be presence of majority of the outstanding capital stock
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Question 1

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Statement 1. Report the results of the election of the members of the board of directors to the SEC, within forty days after such event
Statement 2. For the election of the board of directors, there must be presence of majority of the outstanding capital stock
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Question 10

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A person who holds this position cannot be elected as a secretary
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Question 9

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Plays an important role in improving or maintaining the financial health and success of the business
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Question 8

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A person who holds this position cannot be elected as a treasurer
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Question 7

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ABC Foods Inc. manufacturers snack foods. Just like other small beginners, the company also experienced hard times penetrating the market at that time. Because of the strong belief of its founder that "quality product is the key to success", the company products gained the acceptance of the general public. Based on the given background data about ABC Foods Inc., investing in a real estate company is an ________________ act.

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Question 6

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Treasury shares have no voting right.
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Question 5

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ABC Foods Inc. manufacturers snack foods. Just like other small beginners, the company also experienced hard times penetrating the market at that time. Because of the strong belief of its founder that "quality product is the key to success", the company products gained the acceptance of the general public. Based on the given background data about ABC Foods Inc., selling of its old manufacturing equipment is an ________________ act.

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Question 4

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Who should preside in the meeting?

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Question 3

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A fellow of the board that oversees the activities of a non-stock corporation
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Question 2

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ABC Foods Inc. manufacturers snack foods. Just like other small beginners, the company also experienced hard times penetrating the market at that time. Because of the strong belief of its founder that "quality product is the key to success", the company products gained the acceptance of the general public. Based on the given background data about ABC Foods Inc., an act of increasing the capital stock is an ________________ act.

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Question 1

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Stockholders or members may conduct regular or special meetings. Regular meetings are held annually on the date fixed in the by-laws or if not so fixed on any date in April every year as determined by the board of directors or trustees.
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