Which one of the following terms refers to the effects of a project on other parts of the firm or on the environment?

Average cost, Externalities, Sunk cost, Opportunity cost, Marginal cost

Which of the following is the date on which a firm's directors issue a statement declaring a dividend?

Declaration date, Ex-dividend date, Holder-of-record date, Payment date, Dividend date

Which of the following is NOT an advantage of stock repurchases?

Cash dividends are generally dependable, but repurchases are not.

Stockholders have a choice when the firm distributes cash by repurchasing stock.

Repurchases can be used to produce large-scale changes in capital structures.

Companies that use stock options as an important component of employee compensation usually repurchase shares in the secondary market.

Repurchase announcements are viewed as positive signals by investors.