Single choice 55) Capital redemption reserves are required under the corporate law of many countries under what circumstances? When shares are bought back by the issuing company and held in treasury When shares are bought back and cancelled and then replaced by shares with different features When shares are bought back, cancelled and not replaced When shares are bought back by the issuing company and then re-sold Single choice 56) EBITA is an accounting abbreviation for which of the following? Earnings before interest, tax and appreciation of intangible assets Earnings before interest, tax and allowances Earnings before investment income, tax and amortization of intangible assets Earnings before interest, tax and amortization of intangible assets Single choice 57) Which of the following is often a characteristic of mature companies? Volatile free cash flows Very low free cash balance Stable free cash flows O Volatile cash flows