Minimum margin requirements that brokers must observe are set by the
a. brokerage firm.
b. corporation issuing stock.
c. Securities and Exchange Commission.
d. Securities Investor Protection Corporation.
e. Federal Reserve System.
E
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Pettijohn Inc.The balance sheet and income statement shown below are for Pettijohn Inc. Note that the firm has no amortization charges, it does not lease any assets, none of its debt must be retired during the next 5 years, and the notes payable will be rolled over.
Balance Sheet (Millions of $) Assets2016 Cash and securities$ 1,554.0 Accounts receivable9,660.0 Inventories 13,440.0 Total current assets$24,654.0 Net plant and equipment 17,346.0 Total assets$42,000.0 Liabilities and Equity Accounts payable$ 7,980.0 Notes payable5,880.0 Accruals 4,620.0 Total current liabilities$18,480.0 Long-term bonds 10,920.0 Total liabilities$29,400.0 Common stock3,360.0 Retained earnings 9,240.0 Total common equity$12,600.0 Total liabilities and equity$42,000.0 Income Statement (Millions of $)2016 Net sales$58,800.0 Operating costs except depr'n$55,274.0 Depreciation$ 1,029.0 Earnings bef int and taxes (EBIT)$ 2,497.0 Less interest 1,050.0 Earnings before taxes (EBT)$ 1,447.0 Taxes$ 314.0 Net income$ 1,133.0 Other data: Shares outstanding (millions)175.00 Common dividends$ 509.83 Int rate on notes payable & L-T bonds6.25% Federal plus state income tax rate21.7% Year-end stock price$77.69 Refer to the data for Pettijohn Inc. What is the firm's equity multiplier? A. 3.33 B. 3.50 C. 3.68 D. 3.86 E. 4.05
Which of the following is a general audit test?
A. Active testing procedures. B. Tests of controls. C. Preparation of corporate tax returns. D. Fee assessment procedures.
The listener could signal a reluctance to take over the speaking role by avoiding eye contact with the speaker, shaking his head as if to indicate that he has nothing to and engaging in some activity that is incompatible with a speaking role such as taking copious notes, closing one’s eyes, or coughing. This is known as ______.
Fill in the blank(s) with the appropriate word(s).
Foreign direct investment (FDI) from the United States to the rest of the world reached a record high of $1.4 trillion from 2010 to 2013. This volume of FDI was _________ the U.S. average a decade before.
A. double B. five times C. one and a half times D. almost three times E. more than nine times