1. What are three advantages of the corporate entity form? A. Has an indefinite life, makes transfer of ownership easy, attaches no personal liability B. Ownership and management are often separated, earnings of the corporation an C. Attaches no personal liability for corporation debts to owners (stockholders), make D. Earnings of the corporation are subject to double taxation, has an indefinite life E. None of the above for corporation debts to owners (stockholders) subject to double taxation, government regulation is expensive transfer of ownership easy, government regulation is expensive makes transfer of ownership easy What type of account is treasury stock? A. Asset B. Liability C. Equity-Capital D. Equity-Revenue E. None of the above 2. 3. What type of account dividend payable--common? A. Asset B. Current liability C. Long-term liability D.Equity-Withdrawal E.None of the above