Corporation Exercise

A corporation can come into existence by mere agreement of the parties as in the case of partnership.

• TRUE

• FALSE

A corporation can be held liable for the personal indebtedness of a shareholder.

• TRUE

• FALSE

Shares of stock cannot be transferred without the consent of the other shareholders.

• TRUE

• FALSE

The liability of the shareholders for the payment of corporate debts is limited to the value of their shares.

• TRUE

• FALSE

A corporation may exercise only powers expressly authorized by law or incident to its existence

• TRUE

• FALSE

A corporation as an artificial being can be an incorporator.

• TRUE

• FALSE

A corporation or a partnership can be a corporator.

• TRUE

• FALSE

Preferred stock can be issued without par value.

• TRUE

• FALSE

All corporators are incorporators.

• TRUE

• FALSE

No-par value shares have a minimum stated value of P5.00 per share.

• TRUE

• FALSE