Final answer:
Corporate stock is categorized into classes and series, with option b) 'Classes; Series' as the correct answer. Stock classes allow different rights and preferences for shareholders.
Step-by-step explanation:
Corporate stock can be divided into categories called classes and series. This categorization allows corporations to create different types of stock with various rights, preferences, and privileges that may appeal to different investors or accomplish specific corporate objectives.
A corporation is a business entity owned by shareholders who enjoy limited liability for the company's debts but share in its profits and losses. These entities may be private or public and are capable of issuing stock, which may or may not be publicly traded. Corporations raise capital through selling stock or issuing bonds in order to finance their operations or make new investments.
Regarding the multiple-choice question provided, option b) Classes; Series is the correct answer as corporate stock can indeed be categorized into different classes and series.