8/2/2019 Corporation MCQ
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Corporation MCQ (11-20)
11. Which of the following documents may be
submitted before or after incorporation?
a. Verification certificate as to the name of the
corporation
b. By-laws
c. Certificate of bank deposit as to the paid-up
capital
d. Articles of Incorporation
12. A stock corporation, in general, is taxed in
the same manner as
a. General professional partnership
b. Non-general professional partnership
c. Sole proprietorship
d. Cooperative
13. Which shares may be issued with or without
par value?
a. Common shares
b. Preferred sharesc. Both common and preferred shares
d. Neither common nor preferred shares
14. Who may vote the shares without the need of
any written proxy?
a. The pledgee of shares of stock
b. The mortgagee of shares of stock
c. The executor of an estate which owns the shares
of stock
d. The stockholder who transferred his shares in a
voting trust agreement.
15. In which of the following corporate acts is the
appraisal right not available?
a. Merger or consolidationb. Extension or shortening of
corporate existence
c. Sale, lease, exchange, mortgage, pledge or
other disposition of all or substantially all of its
corporate stock
d. Investment of funds for the accomplishment of
the primary purpose of the corporation
16. Director may be given compensation through
any of the following ways, except by:
a. The vote of the stockholders representing a
least a majority of the outstanding capital stock
b. A provision in the by-laws
c. The vote of the Board of Directors if the
compensation is a reasonable diem
d. The vote of the Board of Directors if thecompensation is
other than per diems
17. Under this theory, the nationality of a
corporation is that of the country under whose
laws it was formed
a. Control test
b. Incorporation test
c. Domiciliary test
d. Grandfather rule
18. The subscriber of unpaid shares which are
not delinquent shall be entitled to the following
rights, except the right to:
a. Vote
b. Inspect corporate books
c. A stock certificate
d. Dividends
19.Immediately after their election, the directors
must formally organize by election the followingofficers,
except:
a. President
b. Vice-President
c. Treasurer
d. Corporate Secretary
20. Which of the following is not a characteristic
of a corporation?
a. Perpetual lifeb. Transferability of ownership interests
c. Unlimited liability on the part of the
stockholders
d. Ability to attract large amount of capital
