Question: Statement I: A no-par share capital shall be issued for a consideration of not less than five pesos. Statement II: All the entire consideration received

Statement I: A no-par share capital shall be issued for a consideration of not less than five pesos. Statement II: All the entire consideration received by the corporation for its no-par value shares shall be treated as capital and shall not be available for distribution as dividends.

Group of answer choices

A. Statement I is true; Statement II is false

B. Statement I is false; Statement II is true

C. Both statements are true

D. Both statements are false

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