Stockholders of a corporation have limited liability which is an advantage of a corporation. True False 2. A disadvantage of corporations is double taxation of corporate corporate earnings True False Authorized shares represent the minimum number of shares that a corporation can issue True False 4. Limited liability, while an advantage, can have an adverse effect on a privately held business because a bank may wart a personal guarantee from a shareholder on a loan True False When par value capital slock ts issued, capital stock is credited with the par value of the shares issued, regardless of whether the issuance pnee is equal to par. more than par. or less than par True False Treasury stock is included the total amount of stock a corporation has issued True False When a corporation fails to pay a dividend one year on iu common stock, it is said to be "in arrears' True False An important part of starting a business is raising capital and to raise capital a corporation can issue common and'or preferred stock True False The statement of cash flow attempts to show where the cash flow came from and where it went True False Non-cash expenses include deprecation and amortization True False In order to receive a dividend, a stockholder must have owned the stock as of the declaration date True False The date of declaration is the date a dividend becomes a liability True False 14 Cash flow from financing activities includes loans, stock issuances and issuance of bonds. True False A corporation must declare a dividend annually. True False In order to pay a dividend, a corporations board of directors must have declared one. that is. the date of declaration. True False