4. Mr.Klemp wants to invest in Good Spirits Corp, he has two options in regards to what type of shares he may purchase. Explain to him what the principal differences between common shares and preferred shares? 5. Assume that instead of purchasing shares Mr.Klemp purchased bonds explain the key differences between shares and bonds. 6. With reference to a scandal involving accounting practices, why are ethical standards important in corporations and the profession of accounting? 1