1. Which one is not a Shareholder's Equity Account. a. Preference Share c. Treasury Shares b. Retained Earnings d. Allow. For Decline in Value of Marketable Securities. 2. When a corporation issues new ordinary shares, which of the following will increase? I. Total Liabilities II. Total Assets III. Quick Assets IV. Net Worth a. I and II b. lll and IV c. 11,111, and IV d. 1,11,111, and IV 3. If a partner in a partnership dies, a. each remaining partner receives an equal share of the deceased partner's ownership of the business. b. the partnership is dissolved. c. the partner's spouse takes the deceased partner's place. d. a new partner is added to the partnership. 4. An advantage of a Corporation is a. ease of formation c. regulation. b. limited liability d. double taxation 5. If a significant amount of capital is needed to start a business, how should the business be organized? a. Corporation c. Limited liability partnership b. General partnership d. Sole proprietorship 6. On the balance sheet, a corporation must disclose all of the following except the number of shares a. authorized. b. issued. c. unissued. d. outstanding. 7. Issued shares are the a. number of shares that have been distributed to shareholders. b. total number of shares that can be issued by the corporation at any time. c. number of shares that are owned by shareholders at the balance sheet date. d. number of share the corporation has repurchased