Watered stocks are shares of stock issued by a corporation for a consideration in any form other than cash valued in excess of its fair value. In this regard:

It is an option privilege of an existing stockholder to subscribe to a proportionate part of shares subsequently issued by the corporation before the same can be disposed of in favor of others.

These are shares which have been issued and fully paid for, but subsequently re- acquired by the issuing corporation by purchase, redemption, donation or through some other lawful means.

Any stockholder of a corporation shall have the right to dissent and demand payment of the fair value of his share/s in three of the following corporate acts. Which is the exception?

Three (3) of the following are attributes of a corporation. Which is the exception?

A type of corporation organized for a charitable purpose.

This is an authority to vote in a corporation stockholders meeting.

They are acts which a corporation is not empowered to do or perform because they are not conferred by its Article of Incorporation or by the Corporation Code, or not necessary or incidental to the exercise of the powers so conferred.

A dividend payable partly in cash and partly in stocks, as to class of dividend, is a :

Shareholders have no claim on corporate property as owners, but mere expectancy or inchoate right to the same upon dissolution of the corporation after all corporate creditors have been paid.

This is a written acknowledgement of an interest of a stockholder in the corporation.

. Membership in a non-stock corporation and all rights arising therefrom cannot be transferred even if provided in the articles of incorporation or by laws because membership and the rights arising therefrom are personal and non-transferable. II. Treasury stocks sold for less than par or issued value are considered “watered stock” and as such are prohibited by law. Which is correct?

One of the following does not require stockholder’s approval:

The interest or right of the owner in the corporation’s profits or in the net assets of the corporation on dissolution is:

These are shares with a stated value set out in the Articles of Incorporation whose value will remain the same regardless of the profitability of the corporation.

The secretary of a stock corporation shall be:

Persons who compose the corporation whether as stockholder in a stock corporation or member in a non-stock corporation, are called:

The following are the corporation's corporate powers, except:

They provide and regulate the internal matters of the corporation, such as calling the Board of Directors and Stockholders meetings.

In the amendment of the Articles of Incorporation of a stock corporation, the following is necessary:

It is the right to withdraw from the corporation and demand payment of the fair value of the shares after dissenting from certain corporate acts involving fundamental changes in corporate structure.

Which of the following does not bring about corporate dissolution?

Dividends are declared and paid out of the

The following are the qualifications of director in a corporation. Choose the exemption:

The following are attributes of a Corporation except:

A gratuitous reissue of Treasury shares will result in:

It is a type of a corporation wherein sshareholders are limited to selected persons or members of a family.

The following are requisites of a valid Corporate Act by the Board of Directors, except:

These do not form part of the outstanding capital stock:

The following are some of the requisites of a de facto corporation. Choose the exception: