21. Which of the following is false about equity (stock) financing? A. The shares may trade on a public exchange if they meet government requirements B. The company is not obligated to pay dividends C. The shares are secured by the assets of the company thus reducing risk D. The company has no obligation to repay the investors for their investments 22. We use the term IPO to mean: A. International private offering B. Institutional private offering C. Initial private offering D. Initial public offering 23. True or False? Warren Buffet, Chairman of the Federal Reserve in 2008, bailed out the banks during the financial collapse A. True B. False 24. Which of the following characteristics does a bond not have? A. Voting rights B. Coupons/Interest payment date C. Maturity date D. Principal amount 25. During thc2008-2009 global financial crisis, the stock market lost approximately: A. 10 percent of its value B. 30 percent of its value C. 50 percent of its value D. 95 percent of its value