QUESTION 3 Sunshine Company issued 4,000 shares of its $5 par value common stock in payment of its attoney's bill of $80,000 The bill was for services performed in helping the company incorporate. Crain should record this transaction by debiting O A Legal Expense for $20,000 B. Organization Expense for $20,000 C. Organization Expense for $80,000 O D. Legal Expense for $80,000 QUESTION 4 If a corporation has only one class of stock, it is referred to as O A solitary stock B.common stock O C classless stock O D. preferred stock QUESTION 5 Which one of the following would not be considered an advantage of the corporate form of organization? A Limited liability of owners B. Continuous life C Govemment regulation D Separate legal existence