
CORPORATIONS
Quiz
•
Other
•
University
•
Practice Problem
•
Hard
Ira Claire
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50 questions
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1.
MULTIPLE CHOICE QUESTION
3 mins • 1 pt
A corporation commences to exist upon the execution of the articles of incorporation by the incorporators.
TRUE
FALSE
2.
MULTIPLE CHOICE QUESTION
3 mins • 1 pt
A stockholder can transfer his shares to another person without the consent of the other stockholders.
TRUE
FALSE
3.
MULTIPLE CHOICE QUESTION
3 mins • 1 pt
The due existence of a de facto corporation may be attacked collaterally in a proceeding.
TRUE
FALSE
4.
MULTIPLE CHOICE QUESTION
3 mins • 1 pt
All subscribed shares are issued shares whether or not fully or partially paid as long as there is a binding subscription agreement.
TRUE
FALSE
5.
MULTIPLE CHOICE QUESTION
3 mins • 1 pt
Redeemable shares may be reacquired by a corporation only if it has unrestricted retained earnings.
TRUE
FALSE
6.
MULTIPLE CHOICE QUESTION
3 mins • 1 pt
Nonvoting shares are not allowed to vote in all corporate acts.
TRUE
FALSE
7.
MULTIPLE CHOICE QUESTION
3 mins • 1 pt
The entire consideration received for the issuance of no-par shares shall all be treated as capital and no part thereof shall be available for distribution as dividends.
TRUE
FALSE
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