CHAPTER_15_DISTRIBUTIONS_TO_SHAREHOLDERS_DIVIDENDS_AND_REPURCHASES

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1、CHAPTER15—DISTRIBUTIONSTOSHAREHOLDERS:DIVIDENDSANDREPURCHASES1. Theoptimaldistributionpolicystrikesthatbalancebetweencurrentdividendsandcapitalgainsthatmaximizesthefirm'sstockprice. a. True b. FalseANSWER:  TruePOINTS:  1DIFFICULTY:  Difficulty:EasyL

2、EARNING OBJECTIVES:  INTE.GENE.16.95-LO:15-3NATIONAL STANDARDS:  UnitedStates-BUSPROG:ReflectiveThinkingSTATE STANDARDS:  UnitedStates-AK-DISC:DividendpolicyLOCAL STANDARDS:  UnitedStates-OH-DefaultCity-TBATOPICS:  OptimaldistributionpolicyKEYWORDS: 

3、 Bloom’s:Knowledge2. Thedividendirrelevancetheory,proposedbyMillerandModigliani,saysthatprovidedafirmpaysatleastsomedividends,howmuchitpaysdoesnotaffecteitheritscostofcapitaloritsstockprice. a. True b. FalseANSWER:  FalsePOINTS:  1DIFFICULTY:  Diffic

4、ulty:EasyLEARNING OBJECTIVES:  INTE.GENE.16.95-LO:15-3NATIONAL STANDARDS:  UnitedStates-BUSPROG:ReflectiveThinkingSTATE STANDARDS:  UnitedStates-AK-DISC:DividendpolicyLOCAL STANDARDS:  UnitedStates-OH-DefaultCity-TBATOPICS:  DividendirrelevanceKEYWOR

5、DS:  Bloom’s:Knowledge3. MM'sdividendirrelevancetheorysaysthatwhiledividendpolicydoesnotaffectafirm'svalue,itcanaffectthecostofcapital. a. True b. FalseANSWER:  FalsePOINTS:  1DIFFICULTY:  Difficulty:EasyLEARNING OBJECTIVES:  INTE.GENE.16.95-LO:15-3N

6、ATIONAL STANDARDS:  UnitedStates-BUSPROG:ReflectiveThinkingSTATE STANDARDS:  UnitedStates-AK-DISC:DividendpolicyLOCAL STANDARDS:  UnitedStates-OH-DefaultCity-TBATOPICS:  DividendirrelevanceKEYWORDS:  Bloom’s:Knowledge4. Ifinvestorspreferfirmsthatreta

7、inmostoftheirearnings,thenafirmthatwantstomaximizeitsstockpriceshouldsetalowpayoutratio. a. TrueCengageLearningTesting,PoweredbyCogneroPage 29CHAPTER15—DISTRIBUTIONSTOSHAREHOLDERS:DIVIDENDSANDREPURCHASES b. FalseANSWER:  TruePOINTS:  1DIFFICULTY:  Di

8、fficulty:EasyLEARNING OBJECTIVES:  INTE.GENE.16.95-LO:15-3NATIONAL STANDARDS:  UnitedStates-BUSPROG:ReflectiveThinkingSTATE STANDARDS:  UnitedStates-AK-DISC:DividendpolicyLOCAL STANDARDS:  UnitedStates-OH-DefaultCity-TBATOPICS:  Investors'dividendpre