
ACCTG 111B
Quiz
•
Business
•
University
•
Practice Problem
•
Easy
Jendry Divinagracia
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50 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Preference shares of stock may be issued with par or no-par value shares.
True
False
Answer explanation
Preference shares cannot be issued without par value.
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The board of directors shall exercise the corporate powers of a corporation.
True
False
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
A shareholder in a corporation does not have the right to transact corporate business or to intervene in the management of the business.
True
False
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Shareholder may be natural or juridical persons.
True
False
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The board of directors is responsible for the formulation and implementation of the overall policies for the corporation.
True
False
Answer explanation
The board of directors is responsible for the formulation of the overall policies while the officers are responsible for its implementation.
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Shares cannot be transferred without consent of the other shareholders.
True
False
Answer explanation
Shares CAN be transferred without the consent of other shareholders.
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Shareholders of a corporation elect the board of directors, who in turn appoint the top officers of the corporation.
True
False
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