Scribd
Upload
129 views3 pages

1.their Names Are Mentioned in The Articles of Incorporation As Originally Forming The Corporation and Are Signatories Thereof

The document contains 12 multiple choice questions about corporations and the incorporation process in the Philippines. It addresses topics like the qualifications of incorporators, what causes a corporation to acquire juridical personality, grounds for dissolution, liability of members in different types of corporations, minimum number of incorporators, officers that must be elected after directors, documents that can be submitted before or after incorporation, what can be amended in the articles of incorporation, grounds for rejection of articles of incorporation, instances where SEC can order a corporation to change its name, and characteristics of a corporation.

Uploaded by

ishinoya keishi
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
129 views3 pages

1.their Names Are Mentioned in The Articles of Incorporation As Originally Forming The Corporation and Are Signatories Thereof

The document contains 12 multiple choice questions about corporations and the incorporation process in the Philippines. It addresses topics like the qualifications of incorporators, what causes a corporation to acquire juridical personality, grounds for dissolution, liability of members in different types of corporations, minimum number of incorporators, officers that must be elected after directors, documents that can be submitted before or after incorporation, what can be amended in the articles of incorporation, grounds for rejection of articles of incorporation, instances where SEC can order a corporation to change its name, and characteristics of a corporation.

Uploaded by

ishinoya keishi
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
You are on page 1/ 3

1.

Their names are mentioned in the articles of incorporation as originally forming the
corporation and are signatories thereof –

 Corporators
 Incorporators
 Stockholders
 Member

2. Which of the following is not a qualification of incorporators of a stock corporation?

 Natural persons must be of legal age


 Can be any person, partnership, association or corporation
 Majority of them must be citizens of the Philippines
 They must be subscribers to at least 1 share of stock of the corporation

3. A corporation acquires juridical personality

 Upon the filing of the articles of incorporation


 Upon the filing of by-laws
 Upon the issuance of the certificate of registration
 Upon receipt of notice of the issuance of the certificate of incorporation

4. Which of the following will cause dissolution of a corporation?

 Continuous inoperation for at least 2 years


 Failure to formally organize and commence the transaction of its business within 5 years from its
incorporation
 Failure to adopt by-laws and submit the same to SEC within 30 days
 Commission by the corporation of an ultra vires act

5. In which of the following corporations will those composing it be liable as general partners?

 Corporation by prescription
 De facto corporation
 Corporation by estoppel
 De jure corporation

6. The minimum number of incorporator is

 one
 two
 five
 fifteen

7. Immediately after their election, the directors must formally organize by the election of the following
officers, except –

 President
 Vice President
 Treasurer
 Corporate Secretary

8. Which of the following documents may be submitted before or after incorporation?

 Verification certificate as to the name of the corporation


 By-laws
 Articles of Incorporation
 All of the above

9. The following may be amendment in the Articles of Incorporation, except

 Capital Stock
 Name of the corporation
 Name of the incorporators
 Corporate purpose

10. One of the following instances is not a ground for rejection of the articles of incorporation –

 The purposes of the articles of incorporation are patently illegal or contrary to government rules
and regulation
 The required percentage of Filipino ownership of the capital stock under the Constitution or
existing laws has not been complied with
 The number of the incorporators is not more than 15
 The certification concerning the amount of capital stock subscribed and/or paid is false;

11. The SEC may summarily order the corporation to immediately cease and desist from using its
corporate name and to register a new one in the following instances, except –

 The corporation name has been verified as available and not registered to another company
 The corporate name is not distinguishable from a name already reserved or registered for the
use of another company
 The corporate name is contrary to law, rules and regulations
 All of the above

12. Which of the following is not a characteristic of a corporation?

 Perpetual life
 Transferability of ownership interests
 Unlimited liability on the part of the stockholders
 Ability to attract large amount of capital

You might also like