Identify which of the following statements are true for the corporate form of organization. (You may select more than one answer. Single click the box with the question mark to produce a check mark for a correct answer and double click the box with the question mark to empty the box for a wrong answer.)

check all that apply

• Ownership rights cannot be easily transferred.
• Owners have unlimited liability for corporate debts.
• Capital is more easily accumulated than with most other forms of organization.
• Corporate income that is distributed to shareholders is usually taxed twice.
• It is a separate legal entity.
• It has a limited life.
• Owners are not agents of the corporation.

Which of the following statements are true regarding dividends? (You may select more than one answer. Single click the box with the question mark to produce a check mark for a correct answer and double click the box with the question mark to empty the box for a wrong answer.)

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• Cash and stock dividends reduce retained earnings.
• Dividends payable is recorded at the time a cash dividend is declared.
• The date of record is the date a cash dividend is paid to stockholders.
• Stock dividends help keep the market price of stock affordable.