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QUESTION 1 The two ways that a corporation can be classified by ownership are publicly held and privately held, O inside and outside O majority and minority O stock and non-stock QUESTION 2 Which of the following would not be true of a privately held corporation? its shares are regularly traded on the New York Stock Exchange. o It does not offer its shares for sale to the general public It is usually smaller than a publicly held company. O it is sometimes called a closely held corporation QUESTION 3 On the dividend record date Dividends Payable is debited. O adividend becomes a current obligation. O Retained earnings is debited. O no journal entry is required QUESTION 4 Kaplan Manufacturing Corporation purchased 2.500 shares of its own previously issued 10 par common stock for 562.500. As a result of this event O Kaplan's Common Stock account decreased $25,000 Kaplan's total stockholders' equity decreased 562,500. O Kaplar's Additional Pald.in Capital account decreased $37,500. O All of these answer choices are correct