int each). Please place your choices on the front side of the scantron. "A" for True or "B" for False mited liability of a stockholder can be viewed as both an advantage and a disadvantage. 2. Corporate carnings are subject to double taxation. The par value of stock refers to its value on the open market. 4. One disadvantage of a corporation is the lack of mutual agency, 5. A dividend that represents a return to the stoskholders of a part of their paid-in capital rather than a distribution out of retained earnings is called a liquidating dividend. 6. Start-up and organization costs should be amortized over ten years or more. 7. The concept of legal capita l exists to protect the corporation's assets for the stockholders of the corporation 8. Treasury stock may be either common or preferred stock. 9. Treasury stock usually is recorded at par value when purchased 10. Bondholders share voting rights with stockholders. 11. A corporation's stockholders are the primary recipients of financial leverage. 12. Under an operating lease, the lessee records both an asset and a liability. 13. When the terras ef a iease require that the lessee record an asset and a liability, the two accounts are recorded at the present value of the total lease payments required. 14. Under a capital lease, the lessor, not the lessee, should record depreciation. 15. The call price of bonds is usually below face value. 16. If the market interest rate at the date of issuance of a bond exceeds the face interest rate, the bond will probably be sold at a premium. 17. A bond agreement is referred to as the debenture