3.The so called "cash flow"(net income plus depreciation) is a flow

of cash, but it a flow to the shareholders or accompany?

4. The dividend is the part of income that that the company

distributes to shareholders. ) As dividends represents real, the net

income is also real money. Is that true?

5. The part of income that is not distributed to shareholders goes to

reserves (shareholders equity) as dividends represents real

money, reserves are also real money. Is that true?

6. Does the shareholders equity represents the savings accompany

as accumulated through the years?

7. Is book value the best proxy to the value of the shares?

8. Is evaluation realized by a prestigious investment bank

scientifically approved which any investor could use as reference?

9. Is it possible for accompanied with positive net income and which

does not distribute dividends to find itself in suspension of

payments?

10. They are four ways accompany can use the money it

generates: a)buying other companies or assets; b)reducing its

debt; c)distribute it to shareholders, and d)increasing its cash

holdings. What other reasonable thing can it do?

11. Assuming a company wishes to distribute its money to

shareholders, is it better to distribute dividends or to repurchase

shares?

12. Is the price of futures the best estimate of the $ exchange

rate?

13. How could we obtain indisputable discount rate? How could

we calculate the beta and risk premium?

14. My company paid an extremely high price for the acquisition

of another company; the price was recommended by the

valuation of an investment bank. We now have financial

problems. Is there any way to make the company legally

responsible for this financial situation?