SHORT-ANSWER ESSAY QUESTIONS S-A E 308 Identify at least six characteristics of the corporate form of business organization. Contrast each one with the partnership form of organization. S-A E...

S-A E 308

Identify at least six characteristics of the corporate form of business organization. Contrast each one with the partnership form of organization.

S-A E 309

Companies frequently issue both preferred stock and common stock. What are the major differences in the rights of stockholders between these two classes of stock?

S-A E 310

The ultimate effect of incurring an expense is to reduce stockholders' equity. The declaration of a cash dividend also reduces stockholders' equity. Explain the difference between an expense and a cash dividend and explain why they have the same effect on stockholders' equity.