B-Write the letter that best completes or answers each statement or question. 1-All of the following are characteristics of a Corporation except: a-limited life. b- ability to acquire Capital. c-transferable Ownership rights. d-separate legal existence. K=5 2-Selling Partnership Assets and paying the proceeds to Creditors and Owners refers to: a-dissolution. b- unlimited liability. c-mutual agency. d-liquidation. 3-Preferred Shares are least likely to have which characteristic? a-The right of the Holder to vote at Shareholders' meetings. b-The right of the Corporation to redeem or retire the shares. c-Preference as to Assets upon liquidation. d-Preference as to dividends. 4-When a Corporation has only 1 class of shares, these shares have the rights and privileges of: a-dividends. b-common shares. c-preferred shares. d-return on investment. 5-If a Company has 300,000 common shares authorized, and has 250,000 shares issued at $3 per share, the Common Shares account would have a balance of: a- $250,000. b- $300,000. C-$750,000. d-900,000. 1/