Pre Final Quiz 1

NATIONAL COLLEGE OF BUSINESS AND ARTS
Cubao-Fairview-Taytay
FIRST SEMESTER SY 2021-2022
PRE – FINAL QUIZ 1 .5 HR
BUSINESS LAWS AND REGULATIONS LAWS ON BUSINESS ORGANIZATION
INSTRUCTIONS:Select the correct answer for each of the following questions.
1. Choose the situation which illustrates best the minimum requirement of the law on increase in
authorized capital stock:
Authorized Capital Subscribed Capital Paid-in Capital
A. P150,000 P 37,500 P15,000
B. P600,000 P150,000 P37,500
C. P 50,000 P 12,500 P 3,125
D. P 60,000 P 30,000 P 5,000
2. Which of the following is not correct? In a limited partnership composed of A, B and C, the
contribution may be as follows:
A. A-services (limited partner); B-cash (general partner); C-services (general partner)
B. A-cash (limited partner); B-property (general partner); C-services (general partner)
C. A-property (limited partner), B-services (general partner); C-cash (general partner)
D. A-cash (limited partner); B-cash (general partner); C-services (general partner
3. To call a meeting for the purpose of removing a director of a corporation the required votes of the
stockholders is:
A. majority of the stockholders present
B. ¾ of the outstanding capital stock
C. 2/3 of the outstanding capital stock
D. majority of the outstanding capital stock
4. The following except one are valid considerations in a subscription agreement relative to the stocks
of a corporation:
A. Intangible property
B. Previous corporate obligations
C. Outstanding shares in exchange for stocks in the event of reclassification or conversion.
D. Promissory notes
5. Under this test, a corporation is a national of the country pursuant to whose laws it is incorporated:
A. Nationality test C. Control test
B. Capitalization test D. Incorporation test
6. No par value stock cannot be issued for a consideration less than:

A. Php 10.00 C. Php 1.00
B. Php 5.00 D. Php 0.50
7. A kind of share having no right to vote and is not considered part of the outstanding capital stock:
A. Promoter’s Shares C. Founders' Shares
B. Treasury Shares D. Redeemable Shares
8. The stockholders or members mentioned in the Articles of Incorporation originally forming and
composing the corporation and who are signatories thereof are called:
A. incorporators C. subscribers
B. promoters D. founders
9. In a corporation, two or more positions may be held concurrently by the same person, except that no
one person shall act as:
A. President and chairman of the board C. Treasurer and director
B. Secretary and treasurer D. President and secretary
10. The right to vote at meetings, the right to receive dividends and the right to receive copies of
financial statements is known as:
A. Directors’ right C. Stockholders’ right
D. Appraisal right D. Pre-emptive right
BUSINESS LAW 2 LAWS ON BUSINESS ORGANIZATION
11. Shares of stock as distinguished from certificate of stock

A. It is evidence of right or interest
B. It cannot be issued if the subscription is not fully paid.
C. It refers to the right over corporate management, profit and surplus
D. It is a tangible personal property
12. One organized for a purpose other than for public worship of God.
A. Ecclesiastical corporation C. Corporation sole
B. Lay corporation D. Eleemosynary corporation
13. Any profit which it may earn shall be used for the furtherance of the purpose for which the
corporation was organized as such profit is not distributable to its members
A. non-stock corporation C. stock corporation
B. close corporation D. public corporation
14. The stockholders or members mentioned in the Articles of Incorporation originally forming and
composing the corporation and who are signatories thereof are called:
A. incorporators C. subscribers
B. promoters D. corporators
15. Stocks lawfully issued by the corporation for money, property, or services and subsequently property
reacquired by it are:
A. watered stocks C. bonus stocks
B. over issued stocks D. treasury stocks
*** THE END ***

God Bless! :D
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NATIONAL COLLEGE OF BUSINESS AND ARTS

INSTRUCTIONS:Select the correct answer for each of the following questions.

6. No par value stock cannot be issued for a consideration less than:

11. Shares of stock as distinguished from certificate of stock

* THE END *

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