Exercise VII. - True or False. Write true if the statement is correct, otherwise, write false on the spaces provided before the numbers.

	1.	A corporate form of business is subject to greater governmental control.
	2.	A corporation can be formed by another corporation, association and natural persons.
	3.	The life of a corporate is set at 50 years.
	4.	A corporation is dissolved when a majority shareholder sells all his shares of stocks.
	5.	A one person corporation just like a partnership has unlimited liability
	6.	A partnership is more complicated to organize than a sole proprietorship and corporation.
	7.	A shareholder cannot sell his interest without the consent of the other shareholders.
	8.	A shareholder or member has the right to inspect the books of the corporation.
	9.	Any corporation should be organized by at least 5 persons
	10.	Capital and capital stock are synonymous.
	11.	Management oversight of a corporation is vested on the board of directors
	12.	Ordinary and preference shares are entitled to dividends in arrears.
	13.	Outstanding shares are issued shares.
	`14.	Par value shares may be issued at less than P 5/share.
	15.	Preference and ordinary shares have voting rights.
	16.	Securities and Exchange Commission is a government body that regulates the operation of a corporation.
	17.	Share certificates are documents that evidence the rights of ownership of shareholders.
	18.	Shares of stocks of a close corporation may be traded in the stock exchanges.
	19.	The Revised Corporation Code requires corporations to have minimum capitalization.
	20.	The shareholders have the right to adopt and amend by-laws
	21.	Treasury shares are shares under the names of the shareholders.