TIILILJI Problem #19 of 23 13 14 The number of shares of stock that a corporation can issue as stated in its charter is referred to as a. arrears. ob.issued. c. authorized. d. outstanding. 15 16 17 18 19 20 roblem #20 of 23 Which of the following statements concerning taxation is accurate? a. Only the stockholders must pay taxes on corporate income. b. Corporations pay federal and state income taxes. oc. Corporations pay income taxes but their stockholders do not. d. Corporations pay federal income taxes but not state income taxes. Problem #21 of 23 The effect of the declaration of a cash dividend on a company's financial statements is to .a. increase total assets and stockholders' equity. b. increase total expenses and total liabilities. C. decrease total assets and stockholders' equity. . d. decrease stockholders' equity and to increase total liabilities