apply to both solicited and unsolicited transactions.
specify that established customers of the firm need not sign a suitability statement.
mandate that an account holding penny stocks only need not be provided with a monthly statement.
require that prospects be given a copy of a risk disclosure document before their initial penny stock transaction.
II and IV
I and III
II and III
I and IV
Penny stock rules only apply to solicited transactions, and it is required that the penny stock disclosure document be provided before any transactions in those securities may take place. However, a signed suitability statement (different than the risk disclosure) is not required for established customers. Statements of account activity must be provided monthly when an account holds penny stocks.
ADRs are a type of equity security designed to simplify foreign investing for Americans. An ADR is created when common shares of a foreign issuer are purchased in the foreign company's home market. These shares are then deposited in a foreign branch of a U.S. bank and a receipt (the ADR) is created. Each ADR may represent one or more shares of foreign-company stock held on deposit.
the right to purchase shares in an amount that would keep a shareholder's proportionate ownership in the corporation unchanged when a company issues additional shares.
the right for the board of directors (BOD) to preempt existing shareholders and only allow them to purchase the newly issued additional shares after the board has purchased the shares they want.
the right that allows new investors to purchase shares before existing shareholders when a company issues additional shares.
the right for the board of directors (BOD) to preempt existing shareholders from purchasing additional shares so that they may be used for paying stock dividends by the corporation.
With noncumulative preferred stock, missed or skipped dividends need not be paid or made up. However, in order to pay common shareholders in any year, preferred shareholders must receive their full dividend for that year. While it can be paid in one annual payment, quarterly, or however the board approves it to be paid, the total in this case would be $4.00. 4% × $100 par value = $4.00.
These dividends are tax deferred.
These dividends are tax free.
These dividends are only taxable to foreign buyers.
These dividends may be taxed by both the foreign country and the United States.
Dividends paid to a U.S. investor may be subject to a withholding tax by the home country of the underlying foreign stock issuer. In many cases, the amount of tax withheld by the foreign government is applied as a credit against the investor's U.S. tax liability. Note: Any trading profits (capital gains) from the ADR would only be taxable here in the United States.
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Toot Auto Supply distributes new and used automobile parts to local dealers throughout the Midwest. Toot’s credit terms are n/30. As of the end of business on October 31, the following accounts receivable were past due:
|Avalanche Auto||August 8||$12,000|
|Bales Auto||October 11||2,400|
|Derby Auto Repair||June 23||3,900|
|Lucky’s Auto Repair||September 2||6,600|
|Pit Stop Auto||September 19||1,100|
|Reliable Auto Repair||July 15||9,750|
|Trident Auto||August 24||1,800|
|Valley Repair & Tow||May 17||4,000|
Determine the number of days each account is past due as of October 31.
A chart of accounts is a list of all ledger accounts and an identification number for each. One example of a chart of accounts is near the end of the book on pages CA and CA-1. Using that chart, identify the following accounts as either an asset (A), liability (L), equity (EQ), revenue (R), or expense (E) account, along with its identification number.
a. Advertising Expense b. Rent Revenue c. Rent Receivable d. Patents e. Rent Payable f. Furniture g. Notes Payable h. Owner, Capital i. Utilities Expense
(a) State the null hypothesis and the alternate hypothesis. (b) State the decision rule. (c) Compute the value of the test statistic. (d) What is your decision regarding
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