B. Additional profit D.

Stock dividend
35. Three (3) of the following are similarities between a partnership and a corporation.
Which is not?
A. The individuals composing both have title voice in the conduct of the business
B. Both have juridical personality separate and distinct from that of the individuals
composing them
C. Like a partnership, a corporation can act only through agents
D. Both are organizations composed of an aggregate if individuals
36. One of the following is the limitation on proxies. Which is?
A. Proxy acquires legal title to the shares of the stock
B. A proxy votes even in the presence of the stockholder
C. The proxy is voted only for the meeting for which it was intended
D. A proxy is revocable at any time
37. The number of the Board of Trustees in a non-stock corporation:
A. Shall not be less than five but not more than eleven
B. May be more than fifteen upon its organization
C. May be less than five upon its organization
D. Shall not be less than five but not more than fifteen
38. One of the following is a ground for the suspension or revocation of the certificate of
incorporation by the Securities and Exchange Commission.
A. If the corporation has commenced its business transactions and afterwards
ceased operation continuously for a period of at least five (5) years
B. If the corporation fails to commence and start to operate and the failure is due to
causes beyond the control of the Corporation
C. If the corporation does not formally commence its business transaction and
subsequently become continuously inoperative for a period of two (2) years
39. Right of the corporation to continue as a juridical entity for the term stated in the articles
of incorporation despite the death of any stockholder.
A. Juridical personality C. Right of succession
B. Pre-emptive right D. Right of existence
40. Original signatories in the articles of incorporation are called:
A. Corporators C. Stockholders
B. Promoters D. Incorporators
41. They regulate different internal matters of the corporation such as calling and defining the
conduct of the meeting of stockholders and directors.
A. Board of directors C. Articles of incorporation
B. By-laws D. Proxy
42. The document conferring authority to vote stock in a corporate meeting:
A. Power of attorney C. Capital stock
B. Shares of stock D. Proxy
43. The minimum requirement of Corporation Law to corporate formation.
Authorized Subscribed Capital Paid in Capital
A. P500,000 P100,000 P25,000
B. 500,000 125,000 31,250
C. 500,000 100,000 20,000
D. 500,000 125,000 25,000