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Quiz on Obligations onPartners
Instructions: True or False. Read thequestions carefully. 10 seconds isallocated to answer each number.
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"1 AR
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1. A corporation is an
natural being createdby operation of law.
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2. A corporation is a
creature of unlimitedpowers.
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3. The life of a corporation
shall not exceed 25 years.
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4. A orporation is
created by mereagreement of the parties.
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5. A corporation may bedissol!ed at any time by
the will of any or all of thestoc"holders.
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#. The orporation
ode classi$escorporations into publicand pri!ate
corporations.
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%. A pri!ate corporation
is created for political orpublic purposes.
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&. The corporation is anational of the country
under whose laws it isorgani'ed or
incorporated.
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(. A corporation can be
held liable for a crimecommitted by its o)cers.
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1*. Treasury shares arethose issued to the
organi'ers andpromoters of a
corporation inconsideration of somesupposed right or
ro ert .
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$nd of quiz%nswers to follow
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%nswers
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