1 - 1. (TCO A) Which of the following is an advantage of...

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1. (TCO A) Which of the following is an advantage of corporations relative to partnerships and sole proprietorships? (Points: 5) Reduced legal liability for investors. Harder to transfer ownership. Lower taxes. Most common form of organization. 2. (TCO A) Buying assets needed to operate a business is an example of a(n) (Points: 5) delivering activity. financing activity. investing activity. operating activity. 3. (TCO A) For 2007 Mossland Corporation reported net income of $28,000; net sales $400,000; and average share outstanding 6,000. There were no preferred stock dividends. What was the 2007 earnings per share? (Points: 5) $4.67 $0.25 $66.67 $14.86 4. (TCO C) Which financial statement is used to determine free cash flow? (Points: 5) income statement statement of operations statement of cash flows retained earnings statement 5. (TCO C) The Dividends account (Points: 5) appears on the income statement along with the expenses of the business. must show transactions every accounting period. is increased with debits and decreased with credits.
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1 - 1. (TCO A) Which of the following is an advantage of...

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