Basic Consideration - Corporations

Stockholders or Shareholders are corporators in a stock corporations while members are corporators of a non-stock corporation. True or False?

• True

• False

Articles of Incorporation are the rules of actions adopted for the officers, shareholders or members of the corporation? True or False?

• True

• False

Answer explanation

By-Laws

Corporators are those who compose a corporation whether as shareholders or members? True or False?

• True

• False

Answer explanation

By-Laws

By Laws are a set of formal documents filed with a government body to legally document the creation of a corporation? True or False?

• True

• False

Answer explanation

Articles of Incorporations

One advantages of forming a corporation is that, It is subject to lower taxation than other forms of business organizations. True or False?

• True

• False

Subsidiary controlled the parent corporation and has the power to either directly or indirectly elect the majority of the directors of all subsidiary corporation. True or False?

• True

• False

Corporators are shareholders originally forming and composing the corporation as originally forming and composing the corporation and are signatories to said articles of incorporation. True or False?

• True

• False

Answer explanation

Incorporators

All incorporators are corporators of a corporation, but  not all corporators are incorporators.True or False?

• True

• False

In case the shares has no stated par value, the fact and the number of shares into which said shares of capital is divided must be stated in the articles of Incorporation.

True or False?

• True

• False

The Board of Directors shall exercise the corporate powers of a corporation.

True or False?

• True

• False