Please help me answering this NAME:PROFESSOR:SECTION:True or False1. Preference shares of stock may be issued with par or no-par value.2. A corporation can be a general partner in a partnership.3. The board of directors shall exercise the corporate powers of a corporation.4. A public corporation is one formed for the government of a portion of the stateAll incorporators are subscribers but a subscriber need not be an incorporatorA partnership can be a corporator in a corporation.7. No-par value shares may not be issued without being fully paid.8. A shareholder in a corporation does not have the right to transact corporatebusiness or to intervene in the management of the business.9. A corporation can come into existence by mere agreement of the parties as in thecase of partnerships.10. A corporation can be held liable for personal indebtedness of a shareholder.11. Shareholders may be natural or juridical persons.5.6.12. No-par value shares have a minimum stated value of P5.00 per share.13. Each of the incorporators of a stock corporation must own or be a subscriber to 2least two (2) shares of the share capital of the corporation.14. The board of directors is responsible for the formulation and implementation of theoverall policies for the corporation.15. Eleemosynary corporations are those organized for public charity.16. A corporation is an artificial being with a personality separate and apart from itsindividual shareholders or members.17. Shares of stock cannot be transferred without the consent of the othershareholders.18. Shareholders of a corporation elect the board of directors, who in turn appoint thetop officers of the corporation.19. Under the RCCP, at least twenty five percent of authorized share capital must besubscribed and at least twenty-five percent of the total subscription must be padupon subscription. In no case shall the paid-up capital be less than P5,000.20. A corporation has continuity of existence which permits the business to continueregardless of changes in ownership or the death of a shareholder.21. Only natural persons can be incorporators.22. Any individual shareholder in a corporation may personally be held liable fordebts incurred by the corporation.23. Non-stock corporations may be formed or organized for charitable, religiceducational, professional, cultural, recreational, fraternal, literary, scientific, sOcacivic service, or similar purposes.24. A corporation is created by agreement of the shareholders.25. All incorporators (if they continue to be shareholders) are corporatorscorporation.5-20 | WIN Ballada's Partnership and Corporation Accounting

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True or False 1. Preference shares of stock may be issued with par or no-par value. 2. A corporation can be a general partner in a partnership. 3. The board of directors shall exercise the corporate powers of a corporation formed for the government of a portion of the state

True or False 1. Preference shares of stock may be issued with par or no-par value. 2. A corporation can be a general partner in a partnership. 3. The board of directors shall exercise the corporate powers of a corporation formed for the government of a portion of the state

Century 21 Accounting General Journal

11th Edition

ISBN:9781337680059

Author:Gilbertson

Publisher:Gilbertson

Chapter23: Accounting For Partnerships

Section: Chapter Questions

Problem 1ANFS

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note: answer all questins with true or false 1. Preference shares of stock may be issued with par or no-par value.2. A corporation can be general partner in a partnership.3. A public corporation is one formed for the government of a portion f the state. 4. All incorporators are subscribers but a subscriber need not be an incorporators.5. A partnership can be corporator in a corporation.6. A shareholder in a corporation does not have the right to transact corporate businessor to intervene in the management of the business.7. A corporation can come into existence by mere agreement of the parties as in the caseof partnerships.8. Eleemosynary corporations are those organized for public charity.9. Shares of stock cannot be transferred without the consent of the other shareholders.10. Shareholders may be natural or juridical persons.11. Death of s shareholder will dissolve the corporation.12. A de jure corporation is a corporation existing in fact and in law.13. Shares without par may be…
Topic: Introduction to Corporation True or False1. A corporation can be a general partner in a partnership.2. The board of directors shall exercise the corporate powers of a corporation.3. A public corporation is one formed for the government of a portion of the state.4. All incorporators are subscribers, but a subscriber need not be an incorporator.5. A partnership can be a corporator in a corporation.6. A corporation can come into existence by mere agreement of the partnership as in the case ofpartnerships.7. A corporation can be held liable for personal indebtedness of a shareholder.8. Shareholders may be natural or juridical persons.9. The board of directors is responsible for the formulation and implementation of the overallpolicies for the corporation.10. Eleemosynary corporations are those organized for public charity.11. A corporation is an artificial being with personality separate and apart from its individualshareholders or members.12. A corporation has continuity of…
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NOTE: ANSWER ALL WITH TRUE OR FALSE 2. A corporation can be general partner in a partnership.3. A public corporation is one formed for the government of a portion f the state. 4. All incorporators are subscribers but a subscriber need not be an incorporators.5. A partnership can be corporator in a corporation.6. A shareholder in a corporation does not have the right to transact corporate businessor to intervene in the management of the business.7. A corporation can come into existence by mere agreement of the parties as in the caseof partnerships.8. Eleemosynary corporations are those organized for public charity.9. Shares of stock cannot be transferred without the consent of the other shareholders.10. Shareholders may be natural or juridical persons.11. Death of s shareholder will dissolve the corporation.12. A de jure corporation is a corporation existing in fact and in law.13. Shares without par may be issued for a consideration less than P5.00 per share.14. A corporation may be an…
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