CHELAWS Quiz 1 - Business Laws Flashcards
Where do one submit or file the incorporation documents of an applicant company?
a. mayor’s office
b. SEC
c. PRC
d. DTI
SEC
A philippine corporation is organized by electing members to its?
a. positions
b. board of directors
c. barangay
d. board of trustees
b. board of directors
When can a corporation legally start?
a. after the approval of SEC
b. after setting up the business
c. when the owner’s said so
d. when the materials are in
a. after the approval of SEC
No board member can be the president and the ___ of the board at the same time.
a. sgt. at arms
b. PRO
c. treasurer
d. auditor
treasurer
How many years can philippine corporation last?
a. 10
b. 20
c. 50
d. 25
50
In a stockholders meeting and decision making of the board, what percentage of votes should be attained in order for the decisions to be valid?
a. 50%
b. 33%
c. 66%
d. 44%
66%
Majority of the incorporators should be residents of the philippines?
a. true
b. false
True
Foreign investment may be made under any of the following mode in the philippines except by:
a. operating through a business association
b. establishing a domestic branch
c. establishing a philippine representative
d. establishing shares in the Philippine stock exchange
Establishing shares in the Philippine stock exchange
What is the governing law over the creation, formation, dissolution, and liquidation of corporations?
a. RA 318
b. Corporation Code of the Philippines
c. RA 2114
d. enterprise law
Corporation Code of the Philippines
Should a foreign corporations register in the securities and exchange commission for their company?
a. true
b. false
True
Foreign corporations are allowed to merge with local corporations?
a. true
b. false
False
