11. The goal of a financial manager is to:

A. Maximize sales

B. Maximize profits

C. Maximize the value of the stock holders

D. Maximize the value of bondholders

E. None of the above

12. The objective function of a financial manager is to:

A. Maximize the stock price

B. Maximize profits

C. Maximize the revenue

D. Maximize the stock price and the bond price at the same time

E. None of the above

13. One common reason for partnerships to convert to a corporate form of organization is that partnership:

A. faces rapidly growing capital (money) requirements.

B. wishes to avoid taxation of profits.

C. has issued all of its allotted shares.

D. agreement expires after ten years of use.

E. none of the above