The type of voting in board elections that is most beneficial to shareholders with a small number of shares is best described as:
A. Statutory voting.
B. Voting by proxy.
Cumulative voting.
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An analyst reviews a corporate bond indenture that contains these two covenants:
1) The borrower will pay interest semi-annually and principal at maturity.
2) The borrower will not incur additAn analyst reviews a corporate bond indenture that contains these two covenants:
1) The borrower will pay interest semi-annually and principal at maturity.
2) The borrower will not incur addit
A. Both are affirmative covenants.
B. Covenant 1 is negative and Covenant 2 is affirmative.
Covenant 1 is affirmative and Covenant 2 is negative.
Which is most likely considered a secondary source of liquidity?
A. Trade credit.
B. Liquidating long-term assets.
Centralized cash management system.
Which of the following most likely trades in the secondary markets?
A. Open-end funds
B. Closed-end funds
C. Unit investment trusts
Consider a $100 par value bond with a 7% coupon paid annually and 5 years to maturity. At a discount rate of 6.5%, the value of the bond today is $102.08. One day later, the discount rate rises to 7.5
A. Increases then decreases
B. Decreases then increases
C. Decreases then remains unchanged