The_____________is a transaction in which the parent creates a wholly-owned,independent subsidiary,with stock and a management team that are different from the parent's, and issues a portion of the subsidiary's stock to the public.

	A.	divestiture
	B.	subsidiary carve-out
	C.	spinoff
	D.	splitoff

________ provide a means of rewarding shareholders with a non-taxable dividend if structure properly and the parent firms with a low tax basis in business may choose to ________ the unit as a tax-free distribution to shareholders rather than sell the business and incur a substantial tax liability.

	A.	Split-offs
	B.	Initial Public Offerings
	C.	Carve-outs
	D.	Spin-offs

Bonds of a non-US issuer registered with the SEC for sale in the US public bond markets are called _______.Similarly,a US company issuing a bond in Japan would be issuing a __________.

	A.	gold rush bonds,land of the rising sun bonds
	B.	Potomacbonds, Mt. Fuji Bonds
	C.	mercantilebonds, ninja bonds
	D.	yankeebonds, samurai bonds

Which of the following claimants generally do not receive any compensation for their claims following the liquidation of a firm?

	A.	Governments owed past-due property taxes
	B.	Common stockholders
	C.	Attorneys and consultants involved in the liquidation of the firm
	D.	Secured creditors

Which of the following are examples of acquisition vehicles that could be used in cross-border transactions?

	A.	Corporations
	B.	Limited liability companies
	C.	All of the above
	D.	Partnerships