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First Exam Good Governance

Quiz by Prof Brenda Corcino

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49 questions
Show answers
  • Q1
    The ___________________________ defines corporation as ‘an artificial being created by operation of law, having the right of succession and the powers, attributes and properties expressly authorized by law or incident to its existence.
    Law of Obligations and Contracts
    Corporation Code of the Philippines
    Board of Investments
    Labor Code Of The Philippines
    30s
  • Q2
    Which of the attributes of a corporation means that it may continue to exist even in death, incapacity or insolvency of any of the member or stockholder?
    Shareholders are owners
    Power, attributes and properties
    Created by operation of law
    Right of succession
    30s
  • Q3
    Which attribute of a corporation means that it has a distinct personality, separate from its owners.
    Created by operation of law
    It is an artificial being
    Shareholders are owners
    Right of succession
    30s
  • Q4
    Which of the following refers to the party given the authority to implement the policies determined by the Board of Directors pertaining to the conduct of business?
    Management
    Shareholders
    Government
    Board of Directors
    30s
  • Q5
    Who are those considered the ultimate owners of the corporation which may either be natural or artificial persons?
    Board of Directors
    Bondholders
    Shareholders
    Stakeholders
    30s
  • Q6
    Which of the following is known as a collegial body that exercises corporate powers of a corporation stipulated in the corporation code?
    Board of Directors
    Bondholders
    Shareholders
    Management
    30s
  • Q7
    Which of the following statements best explains that the corporation is an artificial being?
    That by regulation, a corporation becomes a person with rights and privileges of a human person.
    That by virtue of a charter, a corporation acquires a juridical personality apart from that of its owners.
    That by a particular directive, a corporation becomes a unique personality similar yet different from that of a human being.
    That by fabrication of an act, a corporation becomes like a human being having a life of its own.
    60s
  • Q8
    Who among the stakeholders contribute skills, abilities and industry to the corporation with confidence that the corporation would also give them a form of security?
    Management Team
    Board of Directors
    Creditors
    Employees
    30s
  • Q9
    Which of the following is considered to be the very reason for the continued existence of a business who also takes risk in willingness to pay and/or continually pay for the services and products that the business offers?
    Government
    Customers
    Employees
    Public
    30s
  • Q10
    Which of the following is NOT among the primary purposes of a corporation?
    In the interest of the government, the corporation must create new jobs.
    In the interest of the stakeholders, the corporation must provide goods and services
    In the interest of the stakeholders, a corporation should increase its earnings.
    In the interest of the public, the corporation should endeavor to offer vital services.
    60s
  • Q11
    Which of the following IS NOT a right of shareholders?
    The right to vote members to the board of directors.
    The right to propose shareholders resolutions.
    The right to receive dividends.
    The right to receive payments from its clients.
    45s
  • Q12
    Which of the following refers to a system whereby shareholders, creditors and other stakeholders of a corporation ensure that management enhances the value of the corporation as it competes in an increasingly competitive and globalized market?
    Attestation
    Corporate Governance
    Monitoring & management
    Auditing
    45s
  • Q13
    It refers to the act of making the right information available to the stakeholders which corporate governance promotes.
    Transparency
    Accountability
    Marketability
    Credibility
    45s
  • Q14
    It pertains to the acknowledgement or assumption of responsibility for decisions, actions, policies, administration, governance and implementation of plans and programs in an organization that corporate governance promotes.
    Accountability
    Marketability
    Prudence
    Credibility
    45s
  • Q15
    According to the Agency Theory in Governance, agency costs refer to the costs ______________________________.
    that arise due to conflicts of interest between shareholders and managers.
    associated with managing the demands of government agencies.
    incurred when management hire additional employees from a manpower company.
    involved when converting an entity from a proprietorship to a corporation.
    45s

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