doing business in the Philippines without a license. The SEC issued summons to the corporation. A. Where and to whom shall summons be ser
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A foreign corporation is found doing business in the Philippines without a license. The SEC issued summons to the corporation. A. Where and to whom shall summons be served? B. If sued, can it file a counter suit? Explain.
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- From an accounting perspective, what effect does corporate inversion have on the financial statements and operations of the U.S. company that has relocated its legal domicile to a lower-tax country?2. If payment of bribes is an acceptable business practice in a foreign country, how should a U.S. based parent company react to such practices when doing business in the foreigncountry? Defend your answer.Do all transactions by U.S. companies with foreign parties require special accounting procedures by the U.S. companies? Explain.
- The law that specifically prohibits payments to foreign officials in order to attain business is known as ____________________________. FCPA AICPA SOX IFRSAssume a U.S. company operates overseas and is approached by foreign governments officials with a request to provide family members with student internships with the company. The company does business in that country with foreign customers and is negotiating for a contract with one such customer to provide services. Under what circumstances might such a request violate the FCPA?1. Which of the following is not a source of international economic law? A ) Research articles published in journals B ) Municipal law C ) International model law D ) International trade customs 2. Which of the following law subjects or circumstance does not belong to private international law? A) AChinese company signed a contract with a British company B ) Carriage of goods by sea C ) A Chinese boy married a Japanese girl D ) War between Russia and Ukraine 3. Which of the following does not belong to NTBs? A ) ad valorem duty B.) Licenses C) Quotas D) This-side-up packing requirement Solve all question
- The Securities and Exchange Commission denied the amendment of the Articles of Incorporation of Corporation B because it found out the corporation will be used as a drug den. What is the definite ground of disapproval of the amendment? a. The certification concerning the amount of capital stock subscribed and/ or paid is false. b. The purpose/s are patently unconstitutional, illegal, immoral or contrary to government rules and regulations. c. Not substantially in accordance with the Code. d. The required percentage of Filipino ownership of the capital stock under existing laws or Constitution has not been complied with.Is the resident agent required to be a stockholder in the foreign corporation?Can a foreign company and a domestic company enter into a Joint Venture? what are the requirements? Philippine laws is applicable for this question
- What does the residing agent have to do with the foreign corporation?13 XYZ Corporation is a U.S.-based corporation. It has decided to move some of its accounting operations abroad. The company will continue to use U.S. GAAP for external reporting purposes. Should the company insist that the employees located in the international locations follow the U.S.-based corporate culture? Explain?ABC Corporation, a private corporation engaged in the business of importing used cars from Japan was issued a certificate of incorporation by virtue of R.A. 27890. Because of a failed business transaction, ABC Corporation sued Mr. X for a damage arising from the latter’s alleged breach of its contractual obligations. Mr. X cannot allege “lack of legal capacity to sue” of ABC Corporation in its motion to dismiss because it has a legal personality conferred by law. Mr. X cannot allege “lack of legal capacity” in its motion to dismiss because it is not allowed to attack the existence of the corporation collaterally. ABC Corporation is a de jure corporation and its existence can be attacked only through a quo warranto proceeding. Attacking the existence of ABC Corporation may be done through a motion to dismiss because its creation is void