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Question 5 1 pts Check all the following that are true with respect to Primary and Secondary Markets (with respect to US equity). Secondary markets are unimportant because money does not flow to the company Firms use secondary markets to raise capital directly from the public In Primary Markets, firms issue securities in exchange for capital Secondary markets are important as they provide liquidity Question 6 What do we mean by the separation of ownership and control for a business? 1 pts Shareholders "control" the firm as they have primary decision making authority on day-to-day operations, while management "owns" the firm Debtholders hire the board of directors to ensure that shareholders do not misuse company resources The board of directors "controls" the firm as they have primary decision making authority on day-to- day operations, while shareholders "own" the firm Management "controls" the firm as they have primary decision making authority on day-to-day operations, while shareholders "own" the firm