Which statement is incorrect in regards to the characteristics of a corporation? It is a separate legal entity. It can be sued. Shareholders liability is limited to their investment. It cannot be publicly accountable. Dividends are payments made by the company to distribute future profits. True False Financial Accounting is also referred to as internal reporting. management reporting. external financial reporting. all of the above A friend is looking to purchase shares as an investment, but would like information about whether or not the company has paid dividends in the last year. Where would your friend find this information in the financial statements? Income Statement Operating Activities on the Cash Flow Statement Investing Activities on the Cash Flow Statement Financing Activities on the Cash Flow Statement nnifer is a university student looking to earn some cash for tuition over the summer months (April- August). She has decided to start a lawn care business, what business structure would best suit her needs? private corporation public corporation general partnership sole proprietorship nnifer is a university student looking to earn some cash for tuition over the summer months (April- August). She has decided to start a lawn care business, what business structure would best suit her needs? private corporation public corporation general partnership sole proprietorship Where in the financial statements would a user find out which accounting policies management has selected to use? Statement of Management Responsibility Notes to the Financial Statements Auditors' Report Management Discussion and Analysis