Test Bank for Financial Management: Theory and Practice, 4th Canadian Edition Edition by Brigham
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Grado
Financial Management
Institución
Financial Management
Test Bank for Financial Management: Theory and Practice 4ce 4th Canadian Edition Edition by Eugene F. Brigham, Michael C. Ehrhardt, Jerome Gessaroli, Richard R. Nason.
ISBN-10: 9
ISBN-13: 9503
Full Chapters test bank included with Instant Download
Chapter 1: An Overview of Financial Man...
Indicate whether the statement is true or false.
1. Three disadvantages of a proprietorship are (1) the relative difficulty of raising new capital, (2) the owner’s
unlimited personal liability for the business’s debts, and (3) that the proprietorship is easily but expensively
formed.
a. True
b. False
2. Limited partners who are too involved in the business operation can keep their limited liability status.
a. True
b. False
3. Two key advantages to a proprietorship are that, as a business, it pays no corporate income tax and it is easy
for a proprietorship to obtain the capital needed for growth.
a. True
b. False
4. If an individual investor trades currently outstanding common shares through a broker, this is a primary market
transaction.
a. True
b. False
5. Today, banks can never provide trustee services and the difference between trusts and banks has become
clear over time.
a. True
b. False
6. Equity instruments are a claim upon a residual value, but preferred shares have some features like debt and
some like equity.
a. True
b. False
7. In a limited liability partnership (LLP), only some partners enjoy limited liability with regard to their business
partners’ professional negligence, and their potential losses are limited to their investment in the LLP.
a. True
b. False
8. If Firm A’s business is to obtain funds from savers in exchange for its own securities and then to use the money
to invest in other businesses’ securities, Firm A is a financial intermediary.
a. True
b. False
Page 1
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