SHORT ANSWER. (.25 Points each) 1) A corporation is responsible for its own acts and debts because it is considered a 2) A stock keeps stockholder records and prepares official lists of stockholders for stockholder meetings and dividend payments. 3) are corrections of material errors in prior period financial statements. e 4) The amount assigned per share to stock by the corporation in its charter is the 5) Probably the most important section of the statement of cash flows in analyzing the financial performance of a company's ongoing business is thesection. 6) The gross margin ratio, return on total assets, and basic earnings per share are all _ ratios. 7) The comparison of a company's financial condition and performance across time is known as 8) The number of shares that a corporation's charter allows it to sell is thestock. paring the operating section of the statement of cash flows using the indirect method, noncash 9) When pre net income. expenses are of a business 10) The current ratio and acid-test ratio are used to reflect the 11) The group responsible for and have final authority for managing a corporation's activities is (are) the