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CHAPTER18DividendsandDividendPolicyI.DEFINITIONSDIVIDENDSa1.Paymentsmadeoutofafirm’searningstoitsownersintheformofcashorstockarecalled:a.dividends.b.distributions.c.sharerepurchases.d.payments-in-kind.e.stocksplits.DISTRIBUTIONSb2.Paymentsmadebyafirmtoitsownersfromsourcesotherthancurrentoraccumulatedearningsarecalled:a.dividends.b.distributions.c.sharerepurchases.d.payments-in-kind.e.stocksplits.REGULARCASHDIVIDENDSc3.Acashpaymentmadebyafirmtoitsownersinthenormalcourseofbusinessiscalleda:a.sharerepurchase.b.liquidatingdividend.c.regularcashdividend.d.specialdividend.e.extracashdividend.SPECIALDIVIDENDSd4.Acashpaymentmadebyafirmtoitsownersasaresultofaone-timeeventiscalleda:a.sharerepurchase.b.liquidatingdividend.c.regularcashdividend.d.specialdividend.e.extracashdividend.LIQUIDATINGDIVIDENDSa5.Acashpaymentmadebyafirmtoitsownerswhensomeofthefirm’sassetsaresoldoffiscalleda:a.liquidatingdividend.b.regularcashdividend.c.specialdividend.d.extracashdividend.e.sharerepurchase.CHAPTER18---------------------------------------------------------精品文档---------------------------------------------------------------------DECLARATIONDATEe6.Thedateonwhichtheboardofdirectorspassesaresolutionauthorizingpaymentofadividendtotheshareholdersisthe_____date.a.ex-rightsb.ex-dividendc.recordd.paymente.declarationEX-DIVIDENDDATEb7.Thedatebeforewhichanewpurchaserofstockisentitledtoreceiveadeclareddividend,butonorafterwhichshedoesnotreceivethedividend,iscalledthe_____date.a.ex-rightsb.ex-dividendc.recordd.paymente.declarationDATEOFRECORDc8.Thedatebywhichastockholdermustberegisteredonthefirm’srollashavingshareownershipinordertoreceiveadeclareddividendiscalledthe:a.ex-rightsdate.b.ex-dividenddate.c.dateofrecord.d.dateofpayment.e.declarationdate.DATEOFPAYMENTd9.Thedateonwhichthefirmmailsoutitsdeclareddividendsiscalledthe:a.ex-rightsdate.b.ex-dividenddate.c.dateofrecord.d.dateofpayment.e.declarationdate.HOMEMADEDIVIDENDSe10.Theabilityofshareholderstoundothedividendpolicyofthefirmandcreateanalternativedividendpaymentpolicyviareinvestingdividendsorsellingsharesofstockiscalled(a):a.perfectforesightmodel.b.M&MPropositionI.c.capitalstructureirrelevancy.d.homemadeleverage.e.homemadedividendpolicy.精品文档就在这里-------------各类专业好文档，值得你下载，教育，管理，论文，制度，方案手册，应有尽有----------------------------------------------------------------------------------------------------------------------------------------------------------INFORMATIONCONTENTEFFECTa11.Themarket’sreactiontotheannouncementofachangeinthefirm’sdividendpayoutisthe:a.informationcontenteffect.b.clienteleeffect.c.efficientmarketshypothesis.d.M&MPropositionI.e.M&MPropositionII.CLIENTELEEFFECTb12.Theobservedempiricalfactthatstocksattractparticularinvestorsbasedonthefirm’sdividendpolicyandtheresultingtaximpactoninvestorsiscalledthe:a.informationcontenteffect.b.clienteleeffect.c.efficientmarketshypothesis.d.M&MPropositionI.e.M&MPropositionII.RESIDUALDIVIDENDAPPROACHc13.Apolicyunderwhichthefirmpaysdividendsonlyafteritscapitalinvestmentneedsaremetwhilemaintainingaconstantdebt/equityratioiscalleda:a.homemadedividend.b.clienteleeffect.c.residualdividendapproach.d.bird-in-the-handapproach.e.constantdividendgrowthmodel.TARGETPAYOUTRATIOd14.Thefractionofearningsafirmexpectstopayoutasdividendsoverthelong-runisits:a.internalrateofreturn.b.requiredreturnoninvestment.c.targetROA.d.targetpayoutratio.e.targetcapitalstructure.SHAREREPURCHASEe15.A_____isanalternativemethodtostockdividendswhichisusedtopayoutafirm’searningstoshareholders.a.mergerb.tenderofferc.payment-in-kindd.stocksplite.sharerepurchaseCHAPTER18---------------------------------------------------------精品文档---------------------------------------------------------------------STOCKDIVIDENDSa16.Apaymentmadebyafirmtoitsownersintheformofnewsharesofstockiscalleda_____dividend.a.stockb.normalc.speciald.extrae.liquidatingSTOCKSPLITSb17.Anincreaseinafirm’snumberofsharesoutstandingwithoutanychangeinowners’equityiscalleda:a.specialdividend.b.stocksplit.c.sharerepurchase.d.tenderoffer.e.liquidatingdividend.TRADINGRANGEc18.Thedifferencebetweenthehighestandlowestpricesatwhichastockhastradediscalledits:a.averageprice.b.bid-askspread.c.tradingrange.d.openingprice.e.closingprice.REVERSESPLITSd19.Inareversestocksplit:a.thenumberofsharesoutstandingincreasesandowners’equitydecreases.b.thefirmbuysbackexistingsharesofstockontheopenmarket.c.thefirmsellsnewsharesofstockontheopenmarket.d.thenumberofsharesoutstandingdecreasesbutowners’equityisunchanged.e.shareholdersmakeacashpaymenttothefirm.II.CONCEPTSCASHDIVIDENDSb20.Whichoneofthefollowingstatementsconcerningcashdividendsiscorrect?a.Thechieffinancialofficerofacorporationdetermineswhetherornotadividendwillbepaid.b.Adividendisnotaliabilityofafirmuntilithasbeendeclared.c.Ifafirmhaspaidregularquarterlydividendsinthepastitislegallyobligatedtocontinuedoingso.d.Cashdividendsalwaysreducethepaid-incapitalaccountbalance.e.Thedividendyieldexpressesthedividendamountasapercentageofthenetincome.精品文档就在这里-------------各类专业好文档，值得你下载，教育，管理，论文，制度，方案手册，应有尽有---