6. What does the concept of double taxation mean as far as corporations are concerned? a. Corporations have to file two forms. b. The corporation has to pay taxes on its income and the shareholder has to pay taxes on dividends received. c. The corporate tax rate is twice the individual rate. d. None of the above

7. What type of stock in a corporation is considered debt rather than equity? a. Type B Common Stock b. convertible preferred stock c. Preferred shares redeemable at shareholder option d. None of the above