37. A busi iness created as a distinct legal entity composed of one or more indi

Question

37. A busi iness created as a distinct legal entity composed of one or more individuals or entities is called a: a. corporation. b. sole proprietorship. c. general partnership. d. limited partnership. e. unlimited liability company. 38. A conflict of interest between the stockholders and company management is called: a. stockholders' liability. b. corporate breakdown. c. the agency problem. d. corporate activism. e. legal liability. 39. The primary market is the market in which: a. trades occur on the floor of the NYSE only. b. shareholders who are also company officers offer their securities for sale. c. newly issued securities are offered for sale. d. all securities which are included in the Dow Jones Industrial Average (DJIA) must trade. e. a particular security tends to trade the most frequently. 40. The secondary market is the market in which: a. the sale proceeds of a trade flow to the issuer of the security b. one shareholder sells securities to another shareholder. c. publicly held firms issue new shares of stock. d. only bonds or other debt securities are sold. e. trades occur on exchanges other than the New York Stock Exchange

Explanation / Answer

37 Option a corporation is the correct option.

38. Option c . Agency problem is the correct solution.

39. Option c . Newly issued securities are offerd for sales.

40.Option b . One shareholder sells security to other share holder.

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