Which of the following statements regarding stock splits is incorrect? O A. A stock split increases total owners' equity. O B. A stock split decreases the market price of the shares. O C. A stock split involves a reduction in the share's issue value. D. A stock split is an increase in the number of authorized, issued, and outstanding shares. The payment of a cash dividend previously recorded: A. O B. C. D. increases liabilities and increases assets increases shareholders' equity and reduces liabilities reduces liabilities and reduces assets reduces shareholders' equity and reduces assets A stock dividend will: 0 A. have no effect on total assets O B. increase total owners' equity C. reduce total assets 0 D. have no effect on total assets or total owners' equity The number of shares currently in the hands of shareholders is the same as the number of shares: A. proposed by the board of directors OB. authorized O C. outstanding O D. issued Which of the following is not a characteristic that distinguishes corporations from proprietorships and partnerships? A. O B. C. D. Corporate earnings are subject to double taxation. Corporations have mutual agency. Corporations are separate legal entities apart from the owners. Corporations have continuous lives regardless of changes in ownership