Question: Analyze each statement: Statement I: Any person, partnership, association, or corporation, singly or jointly with others but not more than 15 in number, may organize

Analyze each statement: Statement I: Any person, partnership, association, or corporation, singly or jointly with others but not more than 15 in number, may organize a corporation for any lawful purposes. Statement II: A corporation shall have perpetual existence unless its articles of incorporation provide otherwise. A. Statement 1 is TRUE; Statement 2 is FALSE B. Statement 1 is FALSE; Statement 2 is TRUE C. Both statements are TRUE. D. Both statements are FALSE

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock blur-text-image

Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock

Step: 3 Unlock

Students Have Also Explored These Related Law Questions!

1.I. The corporation may only acquire its own stocks in the presence of unrestricted retained earnings. II. Preferred shares may be acquired even without surplus profit for as long as it will not...

Poration must be a director of the corpo years from the date of its incorporation, its certificate of incorporation shall be can be artificial beings Death of a shareholder will not dissolve the...

TRUE OR FALSE 26 All corporations issue shares of stock and are either public or private. profits on the basis of the shares held. WIN Ballada Corporations: Basic Considerations | 539 fue....

1. Generally, organization costs shall be expensed as incurred together with Share Issuance Cost. 2. Incorporators are those who compose a corporation, whether as stockholders or shareholders in a...

True or false 26. All corporations issue shares of stock and are either public or private. 27 Stock corporations have their share capital divided into shares and are authorized to distribute to the...

1. In the Revised Code, the 50 year corporate term has been removed. True False 2. ABC Inc. has an authorized capital stock of P60,000. Under Revised Corporation Code, which of the following comply...

PLEASE I NEED AN ANSWER :((( THANK YOU IN ADVANCE:* 1)On Jan. 10, 2019, ABC Corporation declared a cash dividend P5,000,000 to shareholders of record on January 30, 2019. It was payable on February...

1) If easier dissolved is to partnership, (blank) is to corporation.* a. greater degree of government control and supervision b. limited liability c. greater ability to acquire funds d. continuity of...

Question 41 1pts Alma, Baby and Chona agreed to form a limited partnership with Alma and Baby as general partners contributing P50,000.00 each, and Chona as limited partner contributing P100,000.00....

hello, please see attached I need help with. I only need the 2 tax memos since I already prepared the tax forms. I need an original paper with proper references APA format. Thanks ACC 700 Milestone...

The Vertical Semi restrained Test was used to conduct flammability tests on children's sleepwear. Pieces of fabric were burned under controlled conditions. After the burning stopped, the length of...

Your firm recently reported at EBIT of $12,250,000. The firm has $8,000,000 in debt at a 10% interest rate, and the firm is in the 28% tax bracket. The firm typically pays out 35% of its net income...

263 cm to millimeters Express your answer to three significant figures and include the appropriate units

Table 3: Accounts Receivable and Inventory by Product and Region. What corrective action might Gino take, given the information provided in the reports? TABLE 3 Accounts Receivable and Inventory by...