QUESTION 1 A corporation: O A Has an owner's capital account for each owner, whereas a partnership does not o B. Is subject to less regulation and supervision than a partnership o C. Is subject to federal income taxes on its earnings, whereas a partnership is not o D. Is less costly to organize than a partnership QUESTION 2 A corporation: 0 A Sells articles of incorporation to obtain funds to acquire operating assets o B. Pays state income taxes but is not subject to the federal income tax o C. Maintains separate capifal and drawing accounts for each owner (0 D. May acquire assets, incur debt, and enter into contracts in its own name QUESTION 3 A firm's cash flow from financing activities includes b A Cash paid for merchandise purchased B. Cash received from sale of investment in bonds C Cash paid to reacquire treasury stock D. Cash received as interest income i QUESTION 4 A firm's cash flow from investing activities incudes A. Cash paid to retire bonds payable B. Cash paid as dividends C. Cash received from the rendering of services to customers D Cash received from the sale of a plant asset