Recent Lessons

Show all results for ""

Feature Overview

Ace your exams with our all-in-one platform for creating and sharing quizzes and tests.

Quizzes

Create quizzes and tests automatically from your content using AI.

Flashcards

Automatically turn your notes into digital flashcards.

Share, Export & Embed

Share with classmates or export to Excel and your learning management system.

Stats & Reporting

Auto-grading quizzes and tests with detailed stats and reports.

Mobile Apps

The smarter way to study – wherever you are.

Pricing

Search...

10 Questions

0 Views

Types of Corporations under RCC

Choose a study mode

Play Quiz

Study Flashcards

Spaced Repetition

Chat to lesson

Podcast

Play an AI-generated podcast conversation about this lesson

Questions and Answers

What is the defining characteristic of a stock corporation?

It is formed for charitable purposes

It is a nonprofit organization

It does not issue stocks

It has capital stock divided into shares (correct)

What types of purposes can nonstock corporations be formed for?

Charitable, religious, educational, and professional purposes (correct)

Cultural, fraternal, and literary purposes

Social, civic service, and trade purposes

All of the above

What is the value of the outstanding capital stock?

Total number of shares issued

Total assets of the corporation

Amount fixed in the articles of incorporation

Total stock subscription except treasury stock (correct)

How many incorporators are required for a corporation aggregate?

At least 2 incorporators Signup and view all the answers

What is the requirement to become a member of a nonstock corporation?

Your name should be included in the articles of incorporation Signup and view all the answers

Corporation aggregate- composed of at least 2 incorporators. b. ______

Corporation sole- composed of a single individual called a 'corporation sole' and his successors Signup and view all the answers

Capital- value of asset ______

corporation Signup and view all the answers

How to become a member of NSC. - Your name should be included in AOI - Personal and non-transferable ______

right Signup and view all the answers

Sec.87 of the RCC Nonstock corporations may be formed or organized for charitable, religious, educational, professional, cultural, fraternal, literary, scientific, social, civic service, or similar purposes, like trade, industry, agricultural and like chambers, or any combination thereof, subject to the special provisions of this Title governing particular classes of ______

nonstock corporations Signup and view all the answers

Outstanding capital stock- total stock subscription except ______

treasury stock Signup and view all the answers