2013 (Mercantile Law ) Bar Exam Questions: Multiple Choice Question 7

[Answer/discuss the question below. Or check Mercantile Law Instructions; Mercantile Law Essay Questions: 1, 2, 3, 4, 5, 6, 7, 8, 9 and 10; Mercantile Multiple Choice Questions: 1, 2, 3, 4, 5, 68, 9, 10, 11, 12, 13, 14 and 15; See also 2013 Bar Exam: Information, Discussions, Tips, Questions and Results]

VII.

The BIR assessed ABC Corp. for deficiency income tax for taxable year2010 in the amount of P26,731,208.00, inclusive of surcharge and penalties.

The BIR can _______. (1%)

(A) run after the directors and officers of ABC Corp. to collect the deficiency tax and their liability will be solidary

(B) run after the stockholders of ABC Corp. and their liability will be joint

(C) run after the stockholders of ABC Corp. and their liability will besolidary

(D) run after the unpaid subscriptions still due to ABC Corp., if any

(E) None of the above choices is correct.

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