20. Which one of the following would not be considered an advantage of the corporate form of organization? a. b. c. d. Limited liability of stockholders Separate legal existence Continuous life Government regulation. 21. Which of the following is not a characteristic of a corporation? Stockholders have limited liability Stockholders can be sued It is a separate legal entity from its owners It has the ability to get more money by issuing more stock a. b. c. d. 22. If common stock is issued for an amount greater than par value, the excess should be credited to a. b. c. d. Cash. Retained Earnings. Paid-in Capital in Excess of Par Value Legal Capital. 23. If Norben Company issues 2,000 shares of $5 par value common stock for $140,000, the account a. b. c. d. Common Stock will be credited for $140,000 Paid-in Capital in Excess of Par Value will be credited for $10,000 Paid-in Capital in Excess of Par Value will be credited for $130,000 Cash will be debited for $130,000 24. If Lantz Company issues 3,000 shares of S5 par value common stock for $210,000, the account for $15,000 a. b. c. d. Common Stock will be credited Paid-in Capital in Excess of Par Value will be credited for $15,000 Paid-in Capital in Excess of Par Value will be credited for $210,000 Cash will be debited for $195,000