1. What is the difference between fixed costs a riable costs? Provide an example of each. 2. Many people argue the top management's sole responsibility is to maximize shareholder wealth. Others argue top management has a social responsibility to the society in which it operates? Who is right? Why? Before purchasing stock, one should ask his or herself the following questions: 3. What am I trying to accomplish? What is my time frame? a. b. c. What is my risk tolerance? Why are the answers to these questions so important to an investor? What is an initial public offering? What are some examples of successful IPOs? 4