Indicate whether each of the following statements is true or false.

1.		The corporation is an entity separate and distinct from its owners.		select an option TrueFalse
2.		The liability of stockholders is normally limited to their investment in the corporation.		select an option TrueFalse
3.		The relative lack of government regulation is an advantage of the corporate form of business.		select an option TrueFalse
4.		There is no journal entry to record the authorization of capital stock.		select an option TrueFalse
5.		No-par value stock is quite rare today.		select an option TrueFalse