For each statement listed, identify the term that best fits the statement.

1.A company whose shares are not traded on an organized stock exchange like the TSX.select a term

Organization costs,Private company,Transferable ownership rights,Separate legal existence,ASPE,Common shares, Limited liability, Board of Directors

2.Accounting standards that can be used by private companies.select a term

Organization costs,Private company,Transferable ownership rights,Separate legal existence,ASPE,Common shares, Limited liability, Board of Directors

3.The characteristic that allows a corporation to act in its own name rather than in the name of its shareholders.select a term

Organization costs,Private company,Transferable ownership rights,Separate legal existence,ASPE,Common shares, Limited liability, Board of Directors

4.The characteristic that ensures shareholders cannot be made to pay creditors out of their personal assets.select a term

Organization costs,Private company,Transferable ownership rights,Separate legal existence,ASPE,Common shares, Limited liability, Board of Directors

5.The characteristic that allows shareholders to transfer shares without the approval of the corporation.select a term

Organization costs,Private company,Transferable ownership rights,Separate legal existence,ASPE,Common shares, Limited liability, Board of Directors.

6.The costs incurred when forming a corporation.select a term

Organization costs,Private company,Transferable ownership rights,Separate legal existence,ASPE,Common shares, Limited liability, Board of Directors

7.The shareholders have a right to elect this group of people.select a term

Organization costs,Private company,Transferable ownership rights,Separate legal existence,ASPE,Common shares, Limited liability, Board of Directors

8.The right to vote, to receive dividends when declared, and to share in assets upon liquidation.

Organization costs,Private company,Transferable ownership rights,Separate legal existence,ASPE,Common shares, Limited liability, Board of Directors