Which ofthe following is a disadvantage of a corporation when compared to a partnership? Multiple Choice 0 The corporation and its stockholders are subjectto double taxation, The stockholders have limited liability O The corporation is treated as a separate legal entity from the stockholders, O The corporation must account ford'le transactions of the business as separate and apart from those ofthe owners Which ofthe following describes the amount of insurance expense reported on the income statement? Multiple Choice . The amount of cash paid for insurance in the current period. The amount pf'insurance used [incurred] in me current period to help generate revenue 0 The amount. of cash paid for insurance in the current. period less any unpaid insurance al the end ofrhe period. 0 The amount of cash paid for insurance that. is reported within the statement of cash ows