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SEATWORK-CORPORATION-MIDTERM PERIOD
I.MULTIPLE CHOICE:

1. Statement 1 – “De-jure” corporation is also called the legitimate corporation.

Statement 2 – The Corporate President is the repository of the corporate powers.
a. Statement 1 is true; Statement 2 is false;
b. Statement 1 is false; Statement 2 is true;
c. Both statements are true;
d. Both statements are false.

2. Contracts between a corporation and third persons must be made by or under the authority of its.
a. Board of Directors c. President and Chief Operating Officer
b. Stockholders d. General Managers
e. None of the above

3. Statement 1- An existing corporation can be a stockholder of another corporation.

Statement 2 – A corporation can be an incorporator of another corporation.
a. Statement 1 is true; Statement 2 is false;
b. Statement 1 is false; Statement 2 is true;
c. Both statements are true;
d. Both statements are false.

4. Statement 1 – Batas Pambansa Blg. 69 is otherwise known as the Corporation Code of the Philippines.
Statement 2 – A corporation is created by mere consent of the contracting parties.
a. Statement 1 is true; Statement 2 is false;
b. Statement 1 is false; Statement 2 is true;
c. Both statements are true;
d. Both statements are false.

5. Corporate personality begins:

a. From the signing by the incorporators of the articles of the incorporation.
b. From the notarization of the articles of incorporation.
c. From the filling of the articles of incorporation.
d. From the issuance by SEC of the certificate of incorporation.
e. None of the above.

6. Statement 1 – Natural and juridical persons can be an incorporators.

Statement 2 – All incorporators are corporators, but not all corporaors are incorporators.
a. Statement 1 is true; Statement 2 is false;
b. Statement 1 is false; Statement 2 is true;
c. Both statements are true;
d. Both statements are false.

7. When is he birthday of a corporation?

a. May 1,1980 c. August 30,1950
b. June 2, 1911 d. None of the above.

8. When is the birthday of a partnership?

a. May 1,1980 c. August 30,1950
b. June 2, 1911 d. None of the above.

9. The Corporation Code of the Philippines is also known as?

a. P.D. 68 c. Act 3135
b. B.P. 68 d. Act 69 e. None of the above
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