Last Corpo Quiz

Which of the following is not a power of SEC?

• To administer oaths

• To issue subpoena

• To issue cease and decease order

• To cite persons in contempt

Unauthorized Use of Corporate Name shall be punished with a fine ranging from

• P10,000-P100,000

• P20,000-P100,000

• P10,000-P200,000

• P20,000-P200,000

Willful Certification of Incomplete, Inaccurate, False, or Misleading Statements or Reports shall be punished with a fine ranging from

• P10,000-P100,000

• P20,000-P100,000

• P10,000-P200,000

• P20,000-P200,000

An independent auditor who, in collusion with the corporation's directors or representatives, certifies the corporation's financial statements despite its incompleteness or inaccuracy, its failure to give a fair and accurate presentation of the corporation's condition, or despite containing false or misleading statements, shall be punished with a fine ranging from

• P80,000-P500,000

• P80,000-P800,000

• P50,000-P500,000

• P50,000-P800,000

A director, trustee, or officer who knowingly fails to sanction, report, or file the appropriate action with proper agencies, allows or tolerates the graft and corrupt practices or fraudulent acts committed by a corporation's directors, trustees, officers, or employees shall be punished with a fine ranging from

• P500,000-P5 million

• P100,000-P1 million

• P500,000-P1 million

• P100,000-P5 million

Any person who, knowingly and with intent to retaliate, commits acts detrimental to a whistleblower such as interfering with the lawful employment or livelihood of the whistleblower, shall, at the discretion of the court, be punished with a fine ranging from

• P100,000-P1 million

• P100,000-P5 million

• P500,000-P1 million

• P500,000-P5 million

Which of the following relationship is not embraced under Intra-Corporate Controversies?

• between the corporation, partnership, or association and the public

• between the corporation, partnership, or association and its stockholders, partners, members, or officers

• between the stockholders and the State

• among the stockholders, partners, or associates

In Corporate Arbitration, a final arbitral award shall be executory after the lapse of __ days from receipt thereof by the parties and shall be stayed only by the filing of a bond or the issuance by the appellate court of an injunctive writ.

• 10

• 15

• 20

• 25

Which of the following is not a requisite to be complied with for the arbitration clause to apply and to be enforceable?

• The number of arbitrators and the procedure for their appointment must be indicated in the arbitration agreement.

• The dispute is between the corporation, and its stockholders or members.

• The arbitration agreement must be provided in the articles of incorporation or bylaws.

• The dispute must involve criminal offenses and interests of third parties.

Statement I: The Special Commercial Courts are now empowered to hear intra-corporate controversies.

Statement II: Special Commercial Courts are still courts of general jurisdiction which have the power to hear and decide cases of all nature, whether civil, criminal or special proceedings.

• Both statements are correct.

• Only Statement I is correct.

• Only Statement II is correct.

• Both statements are incorrect.