Question 49 (1 point) If a company repurchases its Common Shares for a price less than the average issuing price of those shares, then the difference in prices will be a A) debit to Contributed Surplus. B) credit to Contributed Surplus. C) debit to Retained Earnings. D) credit to Retained Earnings. E) note in the journal entry, it will be recorded as a debit to Common Shares at the repurchase price. Question 50 (1 point) The term "Limited liability" ,when used in the context of shareholders and the incorporated form of a busness, means creditors claim on a shareholder's personal assets is "limited" to what is owed to them (the creditors) by the corporation. creditors have no legal claim on a shareholder's personal assets. dividends are limited to the amount the Board of Directors approve each year. the firm cannot sue a shareholder for their actions because the firm is "limited" in what it can do regarding shareholders. Question 51 (1 point) When two or more people get together for the purpose of circumventing prescribed controls, it is called A) assignment of responsibilities. B) a division of duties. C) collusion. D) a party!! E) fraud prevention