You purchased a stock eight months ago for $36 a share. Today, you sold that stock for $41.50 a share. The stock pays no dividends. What was your annualized rate of return?
A. 24.77 percent
B. 26.03 percent
C. 23.32 percent
D. 27.67 percent
E. 25.70 percent
Answer: C
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Tools that can be used for collecting primary data include:
A) survey research and interviews. B) consumer panels and observation. C) focus groups and survey research. D) interviews and observation. E) all of the above
Which of the following is not true regarding the treatment of multiyear pledges, according to FASB Statement 116?
A. They should be reported net of an allowance for estimated uncollectibles. B. At the end of each accounting period, the difference between the new and previously recorded present value is recorded as interest revenue. C. They should be recorded as temporarily restricted. D. They are recorded at the present value of future collections.
Donated equipment for which the fair value has been determined should be recorded as a debit to the appropriate equipment account and a credit to
a. Other Income. b. Retained Earnings. c. Capital Stock. d. Revenue or Gain.
Sam wants to file a petition for bankruptcy. Which of the following is true in this context?
A) Sam need not submit a list of creditors; it is obtained by the court upon investigation. B) Sam's bankruptcy petition cannot be filed electronically. C) Only Sam's attorney can file his bankruptcy petition. D) Sam's attorney is liable for perjury if information filed by Sam is incorrect.