QUESTION 30 Which of the following does not usually describe an advantage of corporations? a. Indefinite life 5. Limited liability c. Ease of acquiring capital d. Higher taxes QUESTION 31 Which of the following are 'types' of securities? a held to maturity b. trading c. available for sale d. A. B. & C are all types of securities QUESTION 32 ABC, Inc. purchases a marketable security. What is the journal entry to record this transaction? a. debit marketable securities, credit cash b. debit cash, credit marketable securities c. debit marketable securities, credit notes payable d. neither a, b nor care correct