Far Eastern University
Institute of Accounts, Business and Finance
Business Organizations
Long Quiz
Atty. Tyron Kim D. Baculo
December 2, 2017
I. Multiple Choice Questions
1. The following are the attributes of a corporation
except:
a) artificial being with separate and distinct
personality
b) created by operation of law
c) enjoys the right of succession
d) delectus personae.
2. The Corporation Code sanctions a contract
between two or more corporations which have
interlocking directors, provided there is no fraud
that attends it and it is fair and reasonable under
the circumstances. The interest of an interlocking
director in one corporation may be either
substantial or nominal. It is nominal if his interest:
a) does not exceed 20% of the outstanding capital
stock.
b) does not exceed 25% of the outstanding capital
stock.
c) exceeds 20% of the outstanding capital stock.
d) exceeds 25% of the outstanding capital stock.
3. Under this doctrine, the separate personality of a
corporation may be disregarded when such
separate personality is misused, or when it
becomes a shield for fraud, illegality or inequity
committed against third persons.
a) Principle of ostensible agency
b) Piercing the veil of corporate fiction
c) Trust fund doctrine
d) Doctrine of corporate negligence
4. The Board of Directors of Trump Corporation
unanimously passed a Resolution approving the
taking of steps that in reality amounted to willful
tax evasion. Upon its discovery, the government
filed tax evasion charges against the members of
the board of directors of Trump Corporation. The
directors invoked the defense that they have no
personal liability, being mere directors of a
fictional being. Are they correct?
a) Yes, since it is Trump Corporation that did not
pay the tax and it has a personality distinct
from its directors.
b) Yes, since the directors officially and
collectively performed acts that are imputable
only to the corporation.
c) No, since the law makes directors of Trump
Corporation solidarily liable for gross
negligence and bad faith in the discharge of
their duties.
d) No, since as a rule only natural persons like
the members of the board of directors can
commit corporate crimes.
5. It is the method by which the percentage of
Filipino equity in a corporation engaged in
nationalized and/or partly nationalized areas of
activities is computed, in cases where corporate
shareholders are present in the situation, by
attributing the nationality of the second or even
subsequent tier of ownership to determine the
nationality of the corporate shareholder.
a) Control Test
b) Alter Ego Doctrine
c) Grandfather Rule
d) Incorporation Test
6. This doctrine provides that subscriptions to the
capital stock of a corporation constitute a fund to
which the creditors have a right to look for the
satisfaction of their claims.
a) Doctrine of piercing the corporate veil
b) Doctrine of equality of shares
c) Appraisal right
d) Trust fund doctrine
7. Clinton Corp. increased its capital stocks from
Php20 Million to Php25 Million and, in the
process, issued 1,000 new shares divided into
Common Shares "B" and Common Shares "C."
Hillary, a stockholder owning 500 shares, insists
on buying the newly issued shares through a right
of pre-emption. The company claims, however,
that its By-laws deny Hillary any right of pre-
emption. Is the corporation correct?
a) Yes, because a stockholder has no right of pre-
emption.
b) Yes, since the denial of the right under the By-
laws is binding on Hillary.
c) No, since the By-Laws cannot deny a
shareholder his right of pre-emption.
d) No, since pre-emptive rights may be exercised
by any stockholder absolutely.
8. ABC Corp. operates a call center that received
orders for food and beverages on behalf of XYZ
Corp. which operates fast food restaurants. The
two companies have the same set of corporate
officers. After 3 years, ABC Corp. dismissed its
call agents for no reason. The agents filed a
collective suit for illegal dismissal against both
Page 1 of 7
 ABC Corp. and XYZ Corp. based on the doctrine
of piercing the veil of corporate fiction. XYZ Corp.
set up the defense that the call agents are
employees of ABC Corp. which is a separate
corporation. Is XYZ Corp. correct?
a) Yes, since the ABC Corp. and XYZ Corp.
perform two distinct businesses.
b) Yes, it is not shown that one corporation
completely dominates the finances, policies,
and business practices of the other.
c) No, since the two companies having the same
set of corporate officers, the doctrine of
piercing the veil of corporate fiction would
apply.
d) No, the real employer is XYZ Corp., with ABC
Corp. serving as an arm for receiving its
outside orders for food and beverages.
9. This is a corporation which has capital stock
divided into shares and is authorized to distribute
to holders of such shares, dividends or allotments
of the surplus profits on the basis of such shares.
a) De jure corporation
b) Stock corporation
c) Non-stock corporation
d) Corporation sole
10. The Articles of Incorporation must be
accompanied by a Treasurer's Affidavit certifying
under oath, among others, that the total
subscription paid is:
a) not more than P5,000.00.
b) not more than P25,000.00.
c) not less than P5,000.00.
d) not less than P25,000.00.
11. An individual stockholder is permitted to institute
a case on behalf of the corporation in order to
protect or vindicate corporate rights, whenever the
directors of the corporation refuse to sue, or are
the ones to be sued, or hold the control of the
corporation. This is called ______:
a) Individual suit
b) Derivative suit
c) Class suit
d) Representative suit
12. Which of the following statements is correct?
a) Any number of natural or juridical persons
not less than five (5) but not more than fifteen
(15), may form a private corporation for any
lawful purpose or purposes.
b) Any number of natural persons not less than
five (5) but not more than fifteen (15), all of
legal age and a majority of whom are
residents of the Philippines, may form a
private corporation for any lawful purpose or
purposes.
c) All incorporators must be residents of the
Philippines.
d) Majority of the incorporators of a stock
corporation must own or be a subscriber to at
least one (1) share of the capital stock of the
corporation.
13. Statement 1: A corporation shall exist for a period
of fifty (50) years from the date of incorporation
unless sooner dissolved or unless said period is
extended.
Statement 2: The corporate term as originally
stated in the articles of incorporation may be
extended for another fifty (50) years in any single
instance by an amendment of the corporate by-
laws.
a) Only Statement 1 is correct.
b) Only Statement 2 is correct.
c) Both statements are correct.
d) Both statements are incorrect.
14. A private corporation commences to have
corporate existence and juridical personality and
is deemed incorporated from ________:
a) the date of signing of the articles of
incorporation and by-laws
b) the date of filing of the articles of
incorporation and by-laws with the Securities
and Exchange Commission
c) the date the Securities and Exchange
Commission issues a certificate of
incorporation
d) the mere agreement of the incorporators
15. All persons who assume to act as a corporation
knowing it to be without authority to do so shall
be liable as general partners for all debts, liabilities
and damages incurred or arising as a result
thereof. This is called a ________:
a) De jure corporation
b) De facto corporation
c) Corporation by prescription
d) Corporation by estoppel
16. The following are corporate officers, except:
a) Treasurer
b) Corporate Secretary
c) Vice-President for Finance provided for in
the corporation’s by-laws
d) In-house counsel
17. The following are the qualifications for the
director of a corporation, except:
a) Must be a resident of the Philippines
b) Ownership of at least one (1) share of the
capital stock of the corporation
c) Must not have been convicted by final
judgment of an offense punishable by
imprisonment for a period exceeding six (6)
years
d) Must be a natural person and of legal age
18. Which of the following statements is correct?
a) The by-laws of a corporation may create an
executive committee, composed of not less
Page 2 of 7
 than three members of the board, to be
appointed by the board.
b) The executive committee has the power to
distribute cash dividends to the stockholders.
c) The board of directors may include a third
party who is not a stockholder as a member
of an executive committee.
d) The executive committee is empowered to
amend or repeal by-laws.
19. This doctrine states that a corporation can act only
through its directors and officers. As such, all
businesses of the corporation shall be conducted
and all its properties shall be controlled and held
by the board of directors.
a) Doctrine of separate juridical personality
b) Doctrine of centralized management
c) Trust fund doctrine
d) Business judgment rule
20. This is the right to demand payment of the fair
value of the shares, after dissenting from a
proposed corporate action involving a Directors applies.
fundamental change in the corporation in the
cases provided by the law.
a) Right of first refusal
b) Pre-emptive right
c) Appraisal right
d) Right of subscription
21. Which of the following statements is correct?
a) Stockholders and directors may vote in person
or by proxy in all meetings of stockholders
and directors.
b) No proxy shall be valid and effective for a
period longer than five (5) years at any one
time.
c) Proxies may be oral or in writing. If in writing,
it must be signed by the stockholder.
d) Written proxies need not be filed before the
scheduled meeting with the corporate
secretary.
22. The following may be valid considerations for the
issuance of stock, except:
a) Actual cash paid to the corporation
b) Previously incurred indebtedness of the
corporation
c) Future services to be rendered to the
corporation
d) Property actually received by the corporation
and necessary or convenient for its use and
lawful purposes
23. This is a contract for the acquisition of unissued
stock in an existing corporation or the shares of a
corporation still to be formed.
a) Subscription contract
b) Promotion contract
c) Contract of sale
d) Voting trust agreement
24. The corporate term of a stock corporation is that
which is stated in its Articles of Incorporation. It
may be extended or shortened by an amendment
of the Articles when approved by majority of its
Board of Directors and:
a) ratified by at least 2/3 of all stockholders.
b) approved by at least 2/3 of the stockholders
representing the outstanding capital stock.
c) approved and ratified by at least 2/3 of all
stockholders.
d) ratified by the stockholders representing 2/3 of
the outstanding capital stock.
25. The rule is that no stock dividend shall be issued
without the approval of stockholders representing
at least 2/3 of the outstanding capital stock at a
regular or special meeting called for the purpose.
With respect to other forms of dividends:
a) mere majority of the votes of stockholders
representing outstanding capital stock applies.
b) the same rule of 2/3 votes applies.
c) a mere majority of the quorum of the Board of
d) majority of the entire Board of Directors
applies.
26. Stocks issued not in exchange for their equivalent
either in cash, property, share, stock dividends, or
services, or issued for a consideration less than the
par or issued price thereof is called _______:
a) Delinquent stocks
b) Watered stocks
c) Share in escrow
d) Treasury shares
27. This doctrine provides that a director who, by
virtue of his office, acquires for himself a business
opportunity which should belong to the
corporation, thereby obtaining profits to the
prejudice of the corporation, is guilty of disloyalty
and should, therefore, account to the latter for all
such profits by refunding the same,
notwithstanding that he risked his funds in the
venture.
a) Doctrine of general capacities
b) Doctrine of corporate opportunity
c) Conflict of interest doctrine
d) Doctrine of necessary implication
28. An appraisal right may be exercised in the
following instances, except:
a) In case any amendment to the articles of
incorporation has the effect of changing or
restricting the rights of any stockholder or
class of shares
b) In case of sale, lease, exchange, mortgage,
pledge or other disposition of all or
substantially all of the corporate property and
assets
c) In case of extension or of shortening the term
of corporate existence
d) In case of increase or decrease of capital stock
Page 3 of 7
29. An act committed outside the object for which a
corporation is created as defined by the law of its
organization and therefore beyond the powers
conferred upon it by law, as well as to the acts
done by a corporation outside of its express and
implied powers vested in it by its charter:
a) Intra vires act
b) Illegal act
c) Ultra vires act
d) Voidable act
30. A merger of two corporations shall only be
effective upon:
a) Drawing up of plan of merger of the
constituent corporations
b) Execution of the Articles of Merger of the
constituent corporations
c) Submission to the Securities and Exchange
Commission of the Articles of Merger
d) Issuance by the Securities and Exchange
Commission of Certificate of Merger
31. Brent Corporation enters in a contract with Kim
Corporation whereby Brent Corp. acquires all of
the properties of Kim Corp., in exchange for
shares of stock of Brent Corp. As a consequence,
Brent Corp. would end up with the business
enterprise of Kim Corp. whereas Kim Corp. would
end up with basically its remaining assets being
the shares of stock of Brent Corp. This
arrangement is called:
a) Consolidation
b) De facto merger
c) Joint venture agreement
d) Corporation by estoppel
32. Statement 1: When one corporation buys all the
shares of another corporation, this will operate to
dissolve the other corporation.
Statement 2: When one corporation buys all the
shares of another corporation, the acquiring
corporation assumes all the liabilities of the other
corporation.
a) Only Statement 1 is correct.
b) Only Statement 2 is correct.
c) Both statements are correct.
d) Both statements are incorrect.
33. In a close corporation, there is _______ when the
directors or stockholders are so divided respecting
the management of the business and affairs of the
corporation that the votes required for any
corporate action cannot be obtained and as a
result, business and affairs can no longer be
conducted to the advantage of the stockholders
generally:
a) Dead-end
b) Deadlock
c) Conflict
d) Revocation
34. Bill owns 99% of the capital stock of AAA
Corporation. Bill also owns 99% of BBB
Corporation. AAA Corporation obtained a loan
from BPI Bank. On due date, AAA Corporation
failed to pay despite due notice. Meanwhile, BBB
Corporation is financially healthy. Which
statement is correct?
a) The doctrine of piercing the veil of corporate
fiction can be applied in this case.
b) AAA Corporation and BBB Corporation,
although both are owned by Bill, are two
distinct corporations with separate juridical
personalities hence, the BBB Corporation
cannot automatically be held liable for the
loan of AAA Corporation.
c) BBB Corporation, 99% owned by Bill, can
automatically be held liable.
d) Bill being a controlling owner of AAA
Corporation can automatically be held
personally liable for the loan of AAA
Corporation.
35. Brent, the President of ZZZ Corporation, was
authorized by the Board of Directors of ZZZ
Corporation to obtain a loan from BDO Bank and
to sign documents in behalf of the corporation.
Brent personally negotiated for the loan and got
the loan at very low interest rates. Upon maturity
of the loan, ZZZ Corporation was unable to pay.
Which statement is correct?
a) If ZZZ Corporation cannot pay, Brent can be
held subsidiarily liable.
b) Because Brent was personally acting in behalf
of ZZZ Corporation, he can be held personally
liable.
c) Brent, as President, cannot be personally held
liable for the obligation of the corporation
even though he signed all the loan documents,
because the loan was authorized by the Board.
d) BDO Bank can choose as to who it wants to
hold liable for the loan.
36. The Board of Directors of XYZ Corp. unanimously
passed a Resolution approving the taking of steps
that in reality amounted to willful tax evasion. On
discovering this, the government filed tax evasion
charges against all the company’s members of the
board of directors. The directors invoked the
defense that they have no personal liability, being
mere directors of a fictional being. Are they
correct?
a) Yes, since it is the corporation that did not pay
the tax and it has a personality distinct from
its directors.
b) No, since the law makes directors of the
corporation solidarily liable for gross
negligence and bad faith in the discharge of
their duties.
c) Yes, since the directors officially and
collectively performed acts that are imputable
only to the corporation.
Page 4 of 7
 d) No, since as a rule only natural persons like
the members of the board of directors can
commit corporate crimes.
37. To constitute a quorum for the transaction of
corporate business, only a majority of the number
of Board of Directors is required:
a) as fixed by the corporate by-laws
b) as fixed in the articles of incorporation
c) actually serving in the board
d) actually serving in the board but constituting a
quorum
38. Unless the by-laws provide otherwise, written
notice of regular meetings shall be sent to all stock
holders of record:
a) at least one day prior to the meeting
b) at least two days prior to the meeting
c) at least one week prior to the meeting
d) at least two weeks prior to the meeting
39. Which of the following will cause the automatic
dissolution of a corporation?
a) Commission by the corporation of an ultra
vires act
b) Continuous non-operation for a period of at
least 5 years
c) Refusal to comply with or defiance of any
lawful order of the SEC restraining
commission of acts which would amount to
grave violation of its franchise
d) None of the above
40. MUO Corporation has increased its capital stock
and new shares of stock are issued. The
stockholders of MUO Corp wish to exercise their
pre-emptive right regarding the shares to be
issued. Which of the following shares does a pre-
emptive right of stockholders extends?
a) to shares to be issued in compliance with laws
requiring stock offerings or minimum stock
ownership by the public
b) to shares to be issued in good faith with the
approval of stockholders representing 2/3 of
the outstanding capital stock in exchange for
property needed for corporate purposes
c) to shares to be issued in good faith with the
approval of the stockholders representing 2/3
of the outstanding capital stock in payment of
previously contracted debt
d) treasury shares reacquired using the funds
from the surplus profits of the corporation
which could have been declared as dividends
41. The following instances are considered as
“indicators” that a foreign corporation is
“transacting business” in the Philippines, even
without securing a license, except:
a) Soliciting orders, purchases and service
contracts
b) Subscribing shares of stock from a domestic
corporation
c) Engaging into continuous business acts or
transactions
d) Participating in the management, supervision
or control of any domestic business firm,
entity or corporation in the Philippines
42. Their names are mentioned in the Articles of
Incorporation as originally forming the
corporation and are signatories thereof:
a) Stockholders
b) Corporators
c) Incorporators
d) Directors
43. The articles of incorporation differ from the by-
laws in that the articles of incorporation are:
a) The rules of action adopted by a corporation
for its internal government
b) Adopted before or after incorporation
c) A condition precedent in the acquisition by
the corporation of a juridical personality
d) Approved by the stockholders if adopted after
incorporation
44. A delinquent stockholder is not entitled to the
following rights, except the right:
a) To be voted
b) To vote or be represented in the meetings of
stockholders
c) To dividends
d) He is not entitled to all the rights of a
stockholder
45. Rachel, Mariel, Chanel, Liz and Nelda want to
establish a car repair business. Rachel, Mariel and
Chanel each have the amount of P200,000 to
contribute to the business capital. Liz is to
contribute to the firm his lot and building, while
Nelda will contribute his services as a mechanic.
All of them are of legal age and residents of the
Philippines. They are deciding on what type of
business organization to put up.
a) The five can only put up a partnership.
b) The five can only put up a corporation.
c) The five can put up either a partnership or a
corporation.
d) The five cannot put up either a partnership or
a corporation.
46. The ordinary stock of the corporation entitling the
owner to pro rata dividends without any priority
or preference over any other shareholders or class
of shareholders but equally with all other
stockholders except preferred stockholders is:
a) Common stock
b) Preferred stock
c) Guaranteed stock
d) Convertible stock
e) None of the above
47. A, B, C ,D and E represented themselves to X as
directors and stockholders of “Titanic
Page 5 of 7
 Corporation.” In reality, no such corporation is
registered with SEC. Later, X granted credit sales
to “Titanic Corporation.” When “Titanic
Corporation” defaulted in its payment, X sued
“Titanic Corporation.” “Titanic Corporation”
moved for the dismissal of the complaint on the
ground that it had no corporate personality. Is the
defense of “Titanic Corporation” tenable?
a) Yes, because it was not registered with SEC.
b) No, because it is estopped from raising as a
defense its lack of corporate personality
against X.
c) Yes, because “Titanic Corporation” does not
really exist.
d) Yes, because only the Office of the Solicitor
General can sue “Titanic Corporation.”
48. Assume the same facts from the preceding
number except that it was “Titanic Corporation”
which granted sales to X. When X defaulted in his
payment, “Titanic Corporation” filed a collection
case against him. X moved for the dismissal of the
complaint on the ground that “Titanic
Corporation” was a non-existent corporation. Is
the defense of X tenable?
a) Yes, because “Titanic Corporation” was not
registered with SEC.
b) No, because X is precluded from raising the
defense that “Titanic Corporation” does not
exist.
c) Yes, because “Titanic Corporation” does not
really exist.
d) Yes, because “Titanic Corporation” lacks
separate juridical personality.
49. Stock corporations formed under the Corporation
Code are required to have a minimum
subscription at the time of incorporation (in case
the shares have par value) in an amount:
a) Not less than 25% of the authorized capital
stock.
b) Equivalent to 100% of the authorized capital
stock.
c) Not less than 50% of the authorized capital
stock.
d) Equivalent to 50% of the authorized capital
stock.
50. Stock corporations are required to have a paid-up
capital at the time of incorporation (in case the
shares have par value) in amount which is at least:
a) 25% of the authorized capital stock or P5,000
whichever is higher.
b) 25% of the subscribed capital stock or P5,000
whichever is higher.
c) 25% of the fair market value of the subscribed
capital stock or P5,000 whichever is higher.
d) P50,000.
51. The articles of incorporation of Crown Office
Supplies Corporation provide for an authorized
capital stock of P50,000 divided into 5,000 shares
each having a par value of P10.00. at the time of
incorporation, how much are the minimum
subscription and paid-in capital requirements of
the corporation?
a) P12,500 and P3,125, respectively.
b) P12,500 and P12,500, respectively.
c) P12,500 and P5,000, respectively.
d) P50,000 and P12,500, respectively.
52. This share can be acquired by the corporation
even without unrestricted retained earnings.
a) Founders’ shares.
b) Redeemable shares.
c) Par value share.
d) No-par value share.
e) None of the above.
53. The term GGG Corporation in accordance with its
Articles of Incorporation ended last January 30,
2012. The term was not extended. What will
happen to the corporation?
a) The corporation is dissolved ipso facto.
b) There is a need to pass a board resolution to
formally dissolve the corporation.
c) The Board of Directors must pass a resolution
for the corporation to formally go into
liquidation.
d) The stockholders must pass a resolution to
dissolve the corporation.
54. It refers to the total shares of stock issued to
subscribers or stockholders, whether or not fully
or partially paid (as long as there is a binding
subscription agreement), except treasury shares.
a) Outstanding capital stock
b) Issued capital stock
c) Subscribed capital stock
d) Authorized capital stock
55. Non-voting shares may vote in the following
cases, except:
a) In the amendment of the articles of
incorporation.
b) In case of merger or consolidation of the
corporation with another corporation or other
corporations.
c) In the election of directors of the corporation.
d) Non-voting shares are not allowed to vote at
all, that is why they are classified as non-
voting.
56. Which of the following statements concerning no-
par shares is incorrect?
a) Subscriptions to no-par shares shall be
deemed fully paid and non-assessable.
b) The entire consideration received for no-par
shares shall all be treated as capital and no
part thereof shall be available for distribution
as dividends.
Page 6 of 7
 c) They may be issued for a consideration of less
than P5.00 per share.
d) They may not be issued by banks, trust
companies, insurance companies, public
utilities, and building and loan associations.
57. Which of the following documents is not required
to be submitted at the time of incorporation?
a) Articles of incorporation
b) Treasurer’s affidavit
c) Certificate of bank deposit on the paid-up
capital
d) By-laws
58. Incorporators of a stock corporation must, in
addition to being natural persons, possess the
following qualifications, except one. Which is such
exception?
a) They must be of legal age.
b) Majority of them must be citizens of the
Philippines.
c) They must not be less than 5 nor more than 15
in number.
d) They must be the owner of at least one share
of stock.
59. The term for which a corporation is to exist which
must be stated in the articles of incorporation at
the time of incorporation:
a) Should be 50 years.
b) Any number of years which may be more than
50 years.
c) Any number of years provided it does not
exceed 50 years.
d) Need not be stated since a corporation may
exist indefinitely.
60. Unknown to the other four proponents, Enrico
(who had been given the task of attending to the
Articles of Incorporation of the proposed
corporation, Auto Mo,Ayos Ko) misappropriated
the filing fees and never filed the Articles of
Incorporation with the Securities and Exchange
Commission (SEC). Instead, he prepared and
presented to the proposed incorporators a falsified
SEC certificate approving the Articles. Relying on
the falsified SEC certificate, the incorporators
began assuming and discharging corporate
powers. Auto Mo, Ayos Ko is a __________
a) de jure corporation
b) de facto corporation
c) corporation by estoppel
d) general partnership
II. True or False
61. A mining company cannot be a close corporation.
TRUE
62. A close corporation is a special kind of corporation
whose articles of incorporation provides that the
number of stockholders shall not exceed twenty
five (25). FALSE
63. Corporate By-Laws may be adopted prior to or
after incorporation. TRUE
64. Appraisal right of a stockholder may be exercised
in all instances. FALSE
65. A non-stock corporation is one where no part of its
income is distributable as dividends to its
members. TRUE.
66. A corporation commences to exist upon the
execution of the articles of incorporation by the
incorporators. FALSE
67. The continuous inoperation of a corporation for a
period of at least five years will result in its
automatic dissolution. FALSE
68. The term "outstanding capital stock" means the
total shares of stock issued under binding
subscription agreements to subscribers or
stockholders, whether or not fully or partially
paid, including treasury shares. FALSE
69. A resident agent may be either an individual
residing in the Philippines or a domestic
corporation lawfully transacting business in the
Philippines. TRUE
70. A corporation may be dissolved by the Securities
and Exchange Commission upon filing of a
verified complaint and after proper notice and
hearing on the grounds provided by existing laws,
rules and regulations. TRUE
III. ESSAY: What is your message to your professor?
____________________________________________________
____________________________________________________
____________________________________________________
____________________________________________________
____________________________________________________
____________________________________________________
____________________________________________________
____________________________________________________
____________________________________________________
____________________________________________________
____________________________________________________
____________________________________________________
____________________________________________________
____________________________________________________
____________________________________________________
____________________________________________________
____________________________________________________
____________________________________________________
____________________________________________________
____________________________________________________
____________________________________________________
____________________________________________________
____________________________________________________
____________________________________________________
____________________________________________________
____________________________________________________
____________________________________________________
“Good luck in the pursuit of your dreams. Do whatever sets your heart
on fire. Always remember: YOUR DREAMS ARE VALID.”
-Atty. Tyron Baculo
Page 7 of 7