Multiple Choice 8. All of the following items are characteristics of a corporation except: a. separate legal existence. b. transferable ownership rights. c. limited life. d. ability to acquire capital. 9. If a company has 300,000 common shares authorized, and has 250,000 shares issued at $3 a share, the Common Shares account would have a balance of: a. $250,000. b. $300,000. c. $750,000. d. $900,000. 10. Preferred shares are least likely to have which characteristic? a. The right of the holder to vote at shareholders' meetings. b. The right of the corporation to redeem or retire the shares. c. Preference as to assets upon liquidation of the corporation. d. Preference as to dividends.