A perpetuity is defined as a sequence of（）
A. equal cash flows occurring at equal intervals of time for a specific number of periods
B. equal cash flows occurring at equal intervals of time forever
C. unequal cash flows occurring at equal intervals of time forever
D. unequal cash flows occurring at equal intervals of time for a specific number of periods
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Which of the following assets is likely to be considered the most liquid（）
A. Marketable securities
B. Net fixed assets
C. Accounts payable
D. Inventories
The net present value formula for one period is（）
A. NPV = C0 + [C1/（1 + r）]
B. NPV = PV required investment
C. NPV = C0/C1
D. NPV = C1/C0
Ethical decision making in business（）
A. reduces the firm’s profits
B. requires adherence to implied rules as well as written rules
C. is not in the best interests of shareholders
D. is less important than good capital budgeting decisions
Liquidity is important to a mutual fund because（）
A. a fund that is less liquid will attract more investors
B. the fund’s shareholders may want to redeem their shares at any time
C. the fund’s managers need liquidity to trade actively
D. the fund needs to distribute payouts to its shareholders and managers periodically
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