1.

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

A. Proxy
B. Shares of stock
C. Certificate of stock
D. Capital sock

2. These are the persons who sign the Articles of Incorporation, who may or may not be subscribers of shares.
A. Incorporators
B. Trustees
C. Directors
D. Promoters

3. This is an authority to vote in a corporation’s stockholder’s meeting.

A. Proxy
B. By-laws
C. Certificate of stock
D. Share of stock

4. A gratuitous issue of Treasury Shares will result in:

a. capital surplus
b. watered stock
c. additional profit
d. stock dividend

5. This negotiable instrument is always drawn against a bank.

a. Bill of exchange
b. Check
c. Due bill
d. Promissory note

6. Jean presented a bill to Ivan, the drawer. Ivan destroyed the bill. What can Jean do?
a. Jean may sue Ivan for the destruction of his property
b. Jean ay go after the drawee for the bill
c. Jean may no longer collect since the bill was destroyed
d. Jean may consider the bill as impliedly accepted by Ivan

7. Rizlen sold and delivered her diamond ring to Vanessa. It was agreed upon that after10 days, Vanessa will name
and fix the price. On the tenth day, Vanessa called up by telephone Rizlen and stated the price of P10,000. Rizlen
accepted Is the sale perfected?
a. Yes. The price is stated and named by one of the contracting parties and was accepted by the other.
b. No. At the time of sale, the price was not fixed.
c. No. The price was left to the discretion of one of the parties.
d. No. At the time of sale, the price is not known.

8. One of the following incidents may be a cause of involuntary dissolution of a partnership. Which is it?
a. Termination of the partnership
b. Insolvency of any partner
c. Express will of any partner
d. Expulsion of any partner

9. The following persons are qualified to form a universal partnership, except:

a. Brother and sister
b. Husband and wife
c. Those guilty of adultery and concubinage
d. Those guilty of the same criminal offense, if the partnership is entered into the consideration of the same.

10. Which of the following is a limitation on proxies?

a. Proxy acquires legal title to the shares of the stockholder
b. A proxy votes even in the presence of the stockholder
c. The proxy is voted only for the meeting of which it was intended
d. A proxy is irrevocable at any time