QUESTION 5 All of the following are characteristics of corporations except: The entity does not need an article of incorporation Liability of stockholders is limited to their investment Owners can easily access capital Entity life will continue in the event of a withdrawal by an owner QUESTION 6 Which of the following must be true for dividends to be paid? Sufficient retained earnings balance Adequate cash to be paid to stockholders Declaration by the Board of Directors All of the above QUESTION 7