A business organized as a corporation

has income tax disadvantages over a proprietorship or partnership.

is not a separate legal entity in most provinces.

requires that shareholders be personally liable for the debts of the business.

is owned by its shareholders.

Question $19(1$ point$)$

If the retained earnings account increases from the beginning of the year to the end

of the year, then

net income is greater than dividends declared.

a loss is less than dividends declared.

additional investments are less than reported losses.

dividends were received.