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Which one of the following is the financial statement that shows the accounting value of a firm’s equity as of a particular date?
Correct answer(s):
- balance sheet
Which one of the following statements concerning NASDAQ is FALSE?
Correct answer(s):
- NASDAQ is an auction market.
Which one of the following statements is correct concerning the NYSE?
Correct answer(s):
- The listing requirements for the NYSE are more stringent than those of NASDAQ.
Shareholder A sold shares of Maplewood Cabinets stock to Shareholder B. The stock is listed on the NYSE. This trade occurred in which one of the following?
Correct answer(s):
- secondary, auction market
Which one of the following statements concerning stock exchanges is correct?
Correct answer(s):
- Some large companies are listed on NASDAQ.
Which one of the following statements is generally correct?
Correct answer(s):
- Auction markets match buy and sell orders.
Public offering of debt and equity must be registered with which one of the following?
Correct answer(s):
- Securities and Exchange Commission
Shareholder A sold 500 shares of ABC stock on the New York Stock Exchange. This transaction:
Correct answer(s):
- was facilitated in the secondary market.
Which one of the following is a primary market transaction?
Correct answer(s):
- sale of a new share of stock to an individual investor
Which one of the following parties has ultimate control of a corporation?
Correct answer(s):
- shareholders
Which one of the following grants an individual the right to vote on behalf of a shareholder?
Correct answer(s):
- proxy
Which one of the following is a means by which shareholders can replace company management?
Correct answer(s):
- proxy fight
Which one of the following is least likely to be an agency problem?
Correct answer(s):
- increasing the market value of the firm's shares
Which one of the following is an agency cost?
Correct answer(s):
- hiring outside accountants to audit the company's financial statements
Which form of business structure is most associated with agency problems?
Correct answer(s):
- corporation
Which one of the following actions by a financial manager is most apt to create an agency problem?
Correct answer(s):
- increasing current profits when doing so lowers the value of the firm's equity
A firm which opts to “go dark” in response to the Sarbanes-Oxley Act:
Correct answer(s):
- can provide less information to its shareholders than it did prior to "going dark".
Which one of the following is an unintended result of the Sarbanes-Oxley Act?
Correct answer(s):
- corporations delisting from major exchanges
The Sarbanes-Oxley Act of 2002 is a governmental response to:
Correct answer(s):
- management greed and abuses.
Decisions made by financial managers should primarily focus on increasing which one of the following?
Correct answer(s):
- market value per share of outstanding stock