Question: DO IT ! 1 1 . 1 a ( LO 1 ) , C Indicate whether each of the following statements is true or false.

DO IT!11.1a (LO 1), C Indicate whether each of the following statements is true or false. If false, indicate how to correct the statement.
Analyze statements about corporate organization.
__________1. The corporation is an entity separate and distinct from its owners.
__________2. The liability of stockholders is normally limited to their investment in the corporation.
__________3. The relatively low amount of government regulation of corporations is an advantage of the corporate form of business.
__________4. There is no journal entry to record the authorization of capital stock.
__________5. No-par value stock is quite rare today.

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