1. which of the following is not characteristic of a corporation?

A. the financial loss that a stockholder may suffer from owning stock in a public company is limited to the amount invested.

B. a corporation can own property and its name.

C. corporations are required to file federal income tax returns.

D. corporations have less regulatory cost than other business forms.

2. one of the main disadvantages of the corporate form is?

A. professional management

B. the charter.

C. that a Corporation must issue stock.

D. double taxation

3. which of the following is not true of a corporation?

A. it may enter into binding legal contracts and its own name.

B. the owners are personally liable for corporate actions

C. it made by own and sell property

D. it may Sue and be sued

4. the entry to record the issuance of common stock at a price above par includes a credit to

A. organizational expenses

B. cash

C. paid in capital in excess of par common stock

D. preferred stock

5. the number of shares of stock data Corporation can issue as stated in its Charter is referred to as

A. Outstanding

B. Arrears.

C. authorised

D. issued

6. the number of shares remaining in the lands of shareholders after stock has been reacquired is referred to as the shares?

A. Outstanding

B. In arrears

C. authorised

D. issued