Which statements is correct under revised corporation code

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Problem 1: ABC Corporation has more than 200 shareholders of which are holding at least 100 ordinary shares. According to degree of participation, this corporation is

a. open corporation.

b. a close corporation.

c. publicly-held corporation.

d. de jure corporation.

Problem 2: Under the Revised Corporation Code of the Philippines, which of the following statements is correct?

a. At least 25% of the authorized capital stock must be subscribed and at least 25% of the subscribed must be paid-up.

b. If a corporation has commenced its business but subsequently becomes inoperative for a period of at least five consecutive years, its certificate of incorporation shall be deemed revoked as of the day following the end of the five-year period.

c. Majority of the incorporators must be resident of the Philippines.

d. Minimum number of directors is required for educational corporations.

Reference no: EM132804033

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