13.

• The present value of $100 to be received 10 years from today, assuming an opportunity cost of 9 percent, is ________.

$236

$ 75

$699

$ 42

14.

The future value of $200 received today and deposited at 8 percent for three years is ________.

$200

$252

$158

$248

15.

Pro forma financial statements are used for ________.

profit planning

preparing financial statements

cash budgeting

auditing

16.

Which of the following is true of a secondary market?

It is a market in which short-term money market instruments such as Treasury bills are traded.

It is a market for an unlisted company to raise equity capital.

It is a market where securities are issued through private placement

It is a market in which preowned securities are traded.