1. Limited liability of shareholders means that

	a.	the corporation is subject to strict government regulations.
	b.	the entity is liable to pay the corporate tax.
	c.	they are taxed as a separate legal entity.
	d.	creditors have no legal claim to the assets of the owners unless fraud has occurred.
	e.	Its shares are regularly traded on a National securities exchange.

2. The relationship between current liabilities and current assets is

	a.	useful in evaluating a company's liquidity.
	b.	useful in determining income.
	c.	called the matching principle.
	d.	useful in determining the amount of a company's Non-current debt.
	e.	useful in predicting future profitability.