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Chapter 11: 1. What are some advantages of the corporate form of organization? 2. What is meant by limited liability of a corporation? 3. What rights are attached to common shares? Where are these rights indicated? 4. Describe a typical incorporation process. 5. What is a board of directors and whom does it represent? Are the directors involved in the daily management of the entity? 1 6. Describe: a two main classes of shares that can be issued by a corporation; and b. the different terms relating to the status of a corporation's shares. 7. In what ways can shares be "preferred"? In which ways are they similar to common shares? Different from common shares? 8. Describe the accounting treatment of reacquired shares. 9. Why do corporations sometimes opt for a share split? 10. Assume a 2-for-1 share split occurs. Explain a. the effect on the total number of issued and outstanding shares; and b. the effect on stated capital