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. 2. Accounting standards that can be used by private companies. 3. The characteristic that allows a corporation to act in its own name rather than in the name of its shareholders. 4 The characteristic that ensures shareholders cannot be made to pay creditors out of their personal assets. 5 The characteristic that allows shareholders to transfer shares without the approval of the corporation 6. The costs incurred when forming a corporation, 7 The shareholders have a right to elect this group of people. The right to vote to receive dividends when declared and to share in assets upon liquidation e Textbook and Media Sche