Which of the following is NOT a characteristic of a corporation? &. a. Unlimited liability of stockholdens Transferable ownership rights b. e. Continuous life d. Separate legal existence In what state are the majority of US companies incorporated? 9. a. Georgia b. Washington e. Delaware d. California 10. What is a preemptive right? a. Ability to vote in an election of board of directors b. Ability to keep the same percentage ownership when new shares of stock are issued Ability to receive dividends before common shareholders e. d. Ability to share in assets upon liquidation of a company in proportion to an individual's holdings/ownership 11. A company's own stock that has been issued and required is called a. Repurchased stock b. Repossessed stock c. Contra-common stock d. Treasury stock 12. On this date related to dividends, no journal entry is required. a. Declaration date b. Record date c. Payment date d. All of the above require a journal entry