Subject: Law on Partnership and Corporations
Extracted text: _17. a non-voting stock may vote in the following corporate acts, except in case of a. approval of the compensation of directors b. merger or consolidation\ c. increase or decrease in capital stock d. sale, lease, exchange, mortgage, pledge or other disposition of all or substantially all of corporate property. _18. Directors may be given compensation through any of the following ways, except a. by the vote of the stockholders representing at least a majority of the outstanding capital stock b. by a provision in the by laws c. by the vote of the board of directors if the compensation is a reasonable per diem, d. by the vote of the BOD if the compensation is other than per diems. _19. One of the following acts may be performed by the executive committee of a corporation. Which is it? a. declaration of stock dividends b. filling of vacancies in the board of directors c. amendment or repeal of the by-laws or adoption of new by laws. d. Approval of contracts in the ordinary course of business. _20. the following statements pertain to the express powers of a corporation. 1. establish pension, retirement , and other plans for the benefit of its directors, trustees, officers and employees. 2. Make donations for the benefit of a political party or candidate or for purposes of partisan political activity provided the donations are reasonable. a. both statements are true. b. Both statements are false c. Statement 1 is true; statement 2 is false. d. Statement 1 is false; statement 2 is true.
Extracted text: 10. Stock dividends differ from cash dividends in that stock dividends do not increase the legal capital b. involve disbursements of corporate funds c. require the approval of both the board of directors and the stockholders d. once received by the stockholders, are beyond the reach of corporate creditors. a. 11.the subscriber of unpaid shares which are not delinquent shall be entitled to the following rights, except the right to a. vote b. inspect corporate books c. a stock certificate d. dividends _12. these statements pertaining to the right of a stockholder to inspect the books and records of a corporation were presented to you for evaluation: 1. the right may be delegated to an agent 2. the right may be denied if in the past, the stockholder improperly used the information which he obtained from the books and records of another corporation of which he is also a stockholder a. both statements are true b. both statements are false c. statement 1 is true; statement 2 is false d. statement 1 is false; statement 2 is true 13. under this doctrine, the separate personality of a corporation may be disregarded if it is used for fraudulent or illegal purpose or to escape the faithful com pliance of an obligation a. trust fund doctrine b. doctrine of piercing the veil of corporate entity c. doctrine of corporate opportunity d. doctrine of limited capacity 14. Consolidation differs from merger in that in consolidation: a. the surviving corporation shall enjoy all the rights, powers and attributes of a corporation under the corporation code b. the existing liabilities of the constituent corporations shall be assumed by the surviving corporation c. the corporate existence of all the constituent corporations shall be extinguished and a new corporation emerges d. the surviving corporation shall possess all the rights, privileges, immunities and franchises of the constituent corporation. 15. The right of a stockholder to demand payment of the fair value of his/her shares when he dissents from certain corporate acts is known as a. pre-emptive right b. appraisal right c. redemption right d. appreciation right 16. the stock that is issued without consideration or below par value or the issued price is known as a. watered stock b. delinquent stock c. redeemable stock d. preferred stock