If a corporation does not formally organize and commence its business within five (5) years from the date of its incorporation, its certificate of incorporation shall be deemed revoked as of the day following the end of the five (5) year-period.Group of answer choicesTrueFalse

A certificate of incorporation is a legal document that signifies the official birth of a corporation.Group of answer choicesTrueFalse

A corporation shall remain as a body corporate for three (3) years after the effective date of dissolution for purposes of liquidation.Group of answer choicesTrueFalse

What happens once the Registrar registers the documents and information filed for the incorporation of a company? A. The company is issued a certificate of incorporation B. The company is allotted a corporate identity number C. The company must maintain copies of all filed documents at its registered officea.Only Ab.Only Bc.Only Cd.All A, B , C

A newly incorporated entity must start its operations within two years after its establishment.Group of answer choicesFalseTrue

What will happen if a corporation has commenced its business but subsequently becomes inoperative for a period of at least five (5) consecutive years? (Answer in not more than 5 sentences)