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11 common stock is considered the legal capital of the corporation 12 cumulative pre 4298524



11. Common stock is considered the legal capital of the corporation. 


12. Cumulative preferred stock means the stock is entitled to its regular dividend plus an additional share of the total amount of declared dividends. 


13. A corporation is a legal entity separate from its owners; it may sue and be sued, but it may not own property in its own name. 


14. A corporation continues in existence even if a stockholder dies or withdraws from the organization. 


15. Treasury stock is stock of a corporation that has been issued and then reacquired and then cancelled. 


16. A stock split will decrease the total par value of the stock. 


17. Stockholders of a corporation are personally liable for the debts of the corporation if all shares of stock are owned by the officers of the corporation. 


18. It is illegal for the government to double tax corporate earnings. 


19. Only preferred stock of a corporation must have a par value. 


20. International accounting standards require mandatory redeemable preferred stock to be classified as a liability on the balance sheet and not as equity. 



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