1.Which of the following is an advantage of a corporation? a. Non transfer of ownership. b. Unlimited liability. c. Double taxation. d. Continues life. 2.The number of shares of stock that a corporation is given the right to sell is called: a. Authorized stock b. Issued stock. c. Capital stock. d. Outstanding stock. 3.Stock that is held by stockholders is called: a. Authorized stock. b. Open stock. c. Issued stock. d. Outstanding stock. 4.Authorized capital stock is shares: a. Listed in the charter. b. Sold and in stockholders possession. c. Issued to the corporations officers. d. That pay dividends. 5.Which of the following is not an advantage of a corporation? a. Government regulation. b. Ease of raising capital. c. Limited liability. d. Transfer of ownership. 6.If you own 500 chairs(2% of corporations stock)and the corporation issues 15000 new chairs how many of the new chairs can you purchase under preemptive right? a. 0. b. 300. c. 800. d. 500. 7.The basic unit of a stock is called a(n): a. Certificate. b. Share. c. Authorization. d. Ownership record. 8.A business wanting to incorporate must file articles of incorporation with: a. The state office dealing with incorporation. b. The local government. c. Any state in which they will do business. d. The federal government. 9.Earning that a stockholders receive from a corporation is an example of which stockholder right? a. Preemptive. b. Liquidation. c. Vote. d. Dividends. 10.Preferred stockholders generally have the same basic rights as common stockholders except for: a. Voting. b. Dividends. c. Preemption. d. Liquidation