Practice question
An enterprise issues electronic certificates representing participation in a profit-sharing agreement. Its accountant says that the absence of printed certificates prevents classification as securities. Resolve only the classification issue.
Legal references
- RA 8799, Section 3.1; https://lawphil.net/statutes/repacts/ra2000/ra_8799_2000.html
Answer this question in flashcards to review your response and continue practicing.