12/01/16 Interest Payable Interest Expense 1560 Cash Part e 12/01/16 Note Payable Cash Ch 11 17. For a business to be considered a corporation: A) its stock must be sold in very large amounts. B) it must be organized as a separate legal entity. C) it must issue both common and preferred stock. D) it must pay dividends Answer: 18. Advantages of the corporate form include all of the A) easy to raise capital. ) shares can be purchased in small amounts