Colleen ONeil, CFA, manages a private investment fund with a balanced global investment mandate. Her clients insist that her personal investment portfolio replicate the investments within their portfo
A. Sale of a listed U.S. blue chip value stock
B. Participation in a popular frontier market IPO
C. Purchase of a UK government bond in the primary market
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Based on best practices in corporate governance procedures, independent board members most likely:
A. Meet only in the presence of management.
B. Have a “lead” director when the board chair is not independent.
C. Hire independent consultants who are pre-approved by management.
Which is most likely considered a “pull” on liquidity?
A. Obsolete inventory
B. Reduction in a line of credit
C. Increased difficulty in collecting receivables
A portfolio manager is required to sell 31,250 shares of XYZ Inc. in two months. She is concerned the price of XYZ shares will decline during the 2-month period, so she enters into a deliverable equit
A. Pay EUR 687,500 to the dealer.
B. Receive EUR 4,312,500 from the dealer.
C. Receive EUR 5,000,000 from the dealer.
An analyst can most accurately identify a LIFO liquidation by observing a(n):
A. Increase in gross margin
B. Decrease in the LIFO reserve
Change in inventory out of line with change in sales