The price at which a share of capital stock may be purchased or sold at a given time is called the
a. market value; b. par value; c. stated value;
d. book value; e. discount.
A
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Which one of the following statements is TRUE?
A. An agency cost is the reduction in firm value due to agency conflicts. B. An agency cost is the wage required to pay someone who is hired to perform a service. C. An example of an agency cost is when the board of directors pays a dividend to shareholders. D. An example of an agency cost is when an attorney hires an expert witness for a trial. E. The commission required by the Federal Housing Agency for a small business loan is an example of an agency cost.
Are ethical individuals more (or less) likely to be better leaders? Use the theories you have learned in this book to support your arguments.
What will be an ideal response?
Which of the following statements concerning internal controls is true?
A. The control procedure, segregation of duties, prohibits the employment of a husband and wife or other closely related parties within the same company. B. Internal accounting controls are limited to the policies and procedures used to protect the company from embezzlement. C. Strong internal controls provide reasonable assurance that the objectives of a company will be accomplished. D. Internal administrative controls are designed to limit the amount of funds spent on investments.
A company anticipates incremental net income (i.e., incremental taxable income) of $20,000 in year 3 of a project. The company's tax rate is 30% and its after-tax discount rate is 8%. See separate Exhibit 13B-1 to determine the appropriate discount factor(s) using table. The present value of this future cash flow is closest to:
A. $14,000 B. $6,000 C. $11,116 D. $4,763