1. What is meant by residual claim?

2. Cars, Inc. has authorized shares = 1,000,000. Public shares = 550,000. Restricted shares = 125,000 shares. Treasury stock = 75,000 shares. What are the totals of Cars: a. Outstanding shares b. Issued shares c. Unissued shares

3. Cult, Inc. has 7 board of directors seats up for election this year. You own 1,000 shares of Cult, Inc. common stock. What is the maximum number of votes you have for one position: a. straight voting b. cumulative voting

4. You own Sonic, Inc. common stock and have told your broker to automatically reinvest your cash dividends. What is the tax treatment of your dividends?

5. You own 1,000 shares of Spooky common stock at $45.00. Spooky conducts a 3 for 2 stock split. What is your new number of shares, price, and total value?

6. You own 500 shares of America common stock at 60. America conducts a 2 for 3 stock split. What is your new number of shares, price, and total value?

7. You own 5,000 shares of Wright common at 210. Wright pays a 5% stock dividend. What is your new number of shares, price, and total value?

8. When is the ex-dividend date for a stock, and what happens that day? If you want the dividend, when must you own the stock?

9. Arrange the following dates in the order they occur with dividends: ex-dividend, payment, record, declaration.

10. Arrange the following values in increasing order for a well-managed, public corporation, assuming market efficiency: Book intrinsic market par