Which of the following would MOST directly affect a company's dividend policy?

• A.The clientele effect
• B.Cost of capital
• C.A loan covenant
• D.Stock price

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A company plans to issue additional equity within the next 12 months but needs to issue debt at a low interest rate now. Which of the following instruments would BEST meet this objective?

• A.Private placement issue
• B.Convertible bonds
• C.Preferred stock
• D.Subordinated debentures

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Companies that seek out other companies that have successfully redesigned their operations are engaging in a process called:

• A.benchmarking.
• B.re-engineering.
• C.continuous improvement.
• D.outsourcing.

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Treasury uses all of the following types of internal information EXCEPT:

• A.large outstanding collection items.
• B.debt repayment schedule.
• C.projected weekly sales.
• D.security safekeeping activity.

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A review of a company's risk management strategy would include all of the following EXCEPT:

• A.market volatility.
• B.use of swaps.
• C.commodity price forecast.
• D.forfaiting.

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