13.Stock dividends and stock splits are rather similar in that both have the effect of reducing the per-share market value of common stock. When accounting for a stock dividend, an entry must be made...

13.Stock dividends and stock splits are rather similar in that both have the effect of reducing the per-share market value of common stock. When accounting for a stock dividend, an entry must be made to the accounting system. When accounting for a stock split, however, no entry needs to be made. Explain the reason for this difference.

14.Most preferred stock is cumulative. In fact, it is rare to find non-cumulative preferred stock. Common stock never has the cumulative feature. Why is it so important with preferred stock?