Subject: Law on Partnership and Corporations 10. Stock dividends differ from cash dividends in that stock dividendsdo not increase the legal capitalb. involve disbursements of corporate fundsc. require the approval of both the board of directors and the stockholdersd. once received by the stockholders, are beyond the reach of corporatecreditors.a.11.the subscriber of unpaid shares which are not delinquent shall be entitled to thefollowing rights, except the right toa. voteb. inspect corporate booksc. a stock certificated. dividends_12. these statements pertaining to the right of a stockholder to inspect the books andrecords of a corporation were presented to you for evaluation:1. the right may be delegated to an agent2. the right may be denied if in the past, the stockholder improperly usedthe information which he obtained from the books and records ofanother corporation of which he is also a stockholdera. both statements are trueb. both statements are falsec. statement 1 is true; statement 2 is falsed. statement 1 is false; statement 2 is true13. under this doctrine, the separate personality of a corporation may be disregarded if itis used for fraudulent or illegal purpose or to escape the faithful com pliance of an obligationa. trust fund doctrineb. doctrine of piercing the veil of corporate entityc. doctrine of corporate opportunityd. doctrine of limited capacity14. Consolidation differs from merger in that in consolidation:a. the surviving corporation shall enjoy all the rights, powers and attributes of acorporation under the corporation codeb. the existing liabilities of the constituent corporations shall be assumed by thesurviving corporationc. the corporate existence of all the constituent corporations shall beextinguished and a new corporation emergesd. the surviving corporation shall possess all the rights, privileges, immunitiesand franchises of the constituent corporation.15. The right of a stockholder to demand payment of the fair value of his/her shares whenhe dissents from certain corporate acts is known asa. pre-emptive rightb. appraisal rightc. redemption rightd. appreciation right16. the stock that is issued without consideration or below par value or the issued price isknown asa. watered stockb. delinquent stockc. redeemable stockd. preferred stock 1. The articles of incorporation differ from the by-laws in that the articles ofincorporation are:a.the rules of action adopted by a corporation for its internal government.b.Adopted before or after incorporationA condition precedent in the acquisition by a corporation of a juridicalpersonalityс.d. Approved by the stockholders if adopted after incorporation.2. the following may be the consideration of the shares of stocks of a corporation, except.a. actual cash paid to the corporationb. previously incurred indebtedness of the corporationc. amounts transferred from unrestricted retained earningsd. service to be performed by a lawyer on the proposed increase in capital stockof the corporation_3. A certificate of stock is distinguished from share of stock in that a share of stock:a. is the written evidence of a stockholder's interest in the assets andmanagement of the corporation.b. Is tangible personal propertyc. Is one of the units into which the capital stock is divided.d. May not be issued if the subscription has not been fully paid.4. The articles of incorporation of Acme Corporation provide for the issuance of 100,000shares without part value and an issued price per share of P10.00. at the time of incorporation,the subscription and paid up capital should not be less than:a. P250,000 and P62,500 respectivelyb. P1M and P250K, respectivelyC. P250K and P250K respectivelyd. P250K and P125K respectively_5. Their names are mentioned in the articles of incorporation as originally forming thecorporation and are signatories thereof.a. corporatorsb. stockholdersc. incorporatorsd. members_6. a corporation acquires juridical personality.a. upon the filing f the articles of incorporationb. upon the filing of the by-lawsc. upon the issuance of the certificate of incorporationd. within 30 days from the receipt of the notice of the issuance of the certificateof incorporation7. a delinquent stockholder is not entitled to the following rights, except,a. to be voted.b. To vote or be represented in the meetings of stockholdersc. To dividendsd. He is not entitled to all the rights of a stockholder_8. Under this theory, the nationality of a corporation is that of the country under whoselaws it was formed.a. control testb. incorporation testc. domiciliary testd. grandfather rule9. a corporation created in strict compliance with all the legal requirements and whoseright to exist as a corporation cannot be successfully attacked in a direct proceeding for thatpurpose by the State is aa. de jure corporationb. de factor corporationcorporation by estoppeld. corporation by prescriptionC.

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The articles of incorporation differ from the by-la tion are: a. the rules of action adopted by a corporation for b. Adopted before or after incorporation c. A condition precedent in the acquisition by personality