1) Which of the following is NOT an advantage of the corporate form of business organization?

Select one:

A. The ease with which capital can be raised

B. The protection afforded stockholders against personal liability

C. Both the business and the owners are taxed

D. The relative ease of selling ownership shares

3. Which of the following financial statements is a period statement?

Select one:

A. Income statement

B. Statement of retained earnings

C. Statement of cash flows

D. All of the above

E. None of the above