1. . is an artificial being created by corporate law and can be ceased to operate by corporate law.

1. Proprietorship
2. Partnership
3. Company
4. None of the above

2. Periodic distributions of earnings to the stockholders of a corporation is commonly known as .

1. Profits
2. Share in profit
3. Un-appropriate profits
4. Dividends

3. To protect preferred stockholders, corporations may in their bylaws, give them pre-emptive rights, allowing them to buy any additional shares offered by the company.

(True/ False)

4. pays no dividends and has no voting rights.

(i)Authorized stock

(ii) Issued stock

(iii)Treasury stock

(iv)Additional paid in Capital

5. The business firms final income is Operating Income. (True/ False)