29 Jun Question FINANCE 410: 1. Which of the following statements is CORRECT? a. One of the disadvantages of incorporating a b
Question
FINANCE 410:
1. Which of the following statements is CORRECT?
a. One of the disadvantages of incorporating a business is that the owners then become subject to liabilities in the event the firm goes bankrupt.
b. Sole proprietorships are subject to more regulations than corporations.
c. In any type of partnership, every partner has the same rights, privileges, and liability exposure as every other partner.
d. Sole proprietorships and partnerships generally have a tax advantage over many corporations, especially large ones.
e. Corporations of all types are subject to the corporate income tax.
2. Cheers Inc. operates as a partnership. Now the partners have decided to convert the business into a regular corporation. Which of the following statements is CORRECT?
a. Assuming Cheers is profitable, less of its income will be subject to federal income taxes.
b. Cheers will now be subject to fewer regulations.
c. Cheers’ shareholders (the ex-partners) will now be exposed to less liability.
d. Cheers’ investors will be exposed to less liability, but they will find it more difficult to transfer their ownership.
e. Cheers will find it more difficult to raise additional capital.
3. Money markets are markets for
a. Foreign stocks.
b. Consumer automobile loans.
c. U.S. stocks.
d. Short-term debt securities.
e. Long-term bonds.
4. Which of the following is a primary market transaction?
a. You sell 200 shares of IBM stock on the NYSE through your brok
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