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Bonds are sold at face value when the contract rate is equal to the market rate of in
terest.()
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更多“Bonds are sold at face value w…”相关的问题
A．foreign bonds
B．Eurobonds
C．Eurocurrencies
D．Eurodollars
Newly issued stocks and bonds are bought and sold in______.
A．auction markets
B．primary markets
C．futures markets
D．commodity markets
Stock exchange is a place()stocks and bonds are bought and sold
through exchanges under rules and at regular hours.
A.that
B.which
C.where
D.when
Why did Gordon Rodgers's A2Z chain have trouble with East Yorkshire Council？
A．They sold fake product.
B．They sold stolen goods.
C．The product they sold was incorrectly labelled.
D．They were not licensed to sell this product.
investmentsmay be small, it is steady and sure. Another people seek investments 【M2】______
that involve higher risks. They understand that the amount of money a investment 【M3】______
returns is frequently related to the amount of risk it involves. Because they want to obtain the greatest possible return on each dollar investing, they are willing to take certain 【M4】______
chances. Still another group of people want both comfort of safe investments and 【M5】______
greater dollar return of high-risk investments. Accordingly, they prefer to a program 【M6】______
that has a balance of both safe and high-risk investments.
For the last two groups, most popular types of high-risk investments are those 【M7】______
that involve securities. Securities, that is a general term for stocks and bonds, are 【M8】______
sold by governments and corporations in order to raise large amounts of money.
There are three ways in which businesses that needs a great deal of money for a long 【M9】______
period of time can obtain that money. They can go to a bank and apply for a long-term loan. They can use the profits of the business. Or they can sell stocks and bonds. But banks are often reluctant to lend large amounts for periods longer than one and two years. 【M10】______
And profits are ordinarily not large enough to finance anything very expensive.
【M1】
Some companies enable stockholders to share in the profits of the company. These payments of corporate profits to stockholders are called dividends. In addition to having a claim on company profits, stockholders are entitled to share in the sale of the company if it is dissolved. They may also vote in person or by proxy on a variety of corporate matters, including the most important matter of who should run the corporation. When the company issues new stock, stockholders have priority to buy a certain number of shares before they are offered for public sale. Stockholders also receive periodic reports, usually quarterly, that provide information regarding the corporation's business performance. Stocks generally are negotiable, which means stockholders have the right to assign or transfer their shares to another individual.
A stockholder is considered a business owner and has the protection of limited liability under United States laws. Limited liability means that a stockholder is not personally liable for the debts of the corporation. The most a stockholder can lose if the company fails is the amount of his or her investment -- what he or she originally paid for the stock. This arrangement differs from that of other forms of business organization, which are known as sole proprietorships and partnerships. These business owners are personally liable for the debts of their businesses.
Corporations have good reasons to issue stocks. They issue stock in order to finance their business activities. This method of raising funds is only available to business firms organized as corporations; it is not available to sole proprietorships and partnerships. The corporation can use the proceeds of a stock offering in a variety of ways. Depending on the type of company, this might involve increasing research and development operations, purchasing new equipment, opening new facilities or improving old ones, or hiring new employees.
An alternative to stock financing is debt financing or the sale of bonds, an interest-bearing loan. This alternative is also available to sole proprietorships and partnerships. With the issuance of a bond a company typically promises to make periodic interest payments to the lender or bondholder as well as pay back the amount of the bond when the term of the bond comes to an end. Thus bonds are evidence of loans while stocks are evidence of ownership. Stocks and bonds are collectively known as securities.
When a corporation first makes stock available for public purchase, it works with an investment banking firm to arrange an initial public offering (IPO). The investment bank acquires the first issue of stocks from the corporation at a negotiated price, and then makes the shares available for sale to its clients and other investors.
A corporation can only have one IPO -- the first time it makes stock available to the public. After its IPO, a company is said to be public. Public corporations that need additional financing for further business development may choose to issue more stock at a later time. This is called a subsequent, or follow-on, offering.
Some corporations may choose not to go public. In this case it is said to be a privately held corporation. A corporation may elect to remain private because it docs not want to share its profits, or it may not want to give up control to shareholders.
Most of the information reported in the daily news media about the buying and selling of stock refers to transactions involving previously issued stock. The daily buying and selling of stock rarely involv
A．Y
B．N
C．NG
？Read the following extract from an article about Security Markets.
？For each question 15—20, mark one letter (A, B, C, or D) on your Answer Sheet for the answer you choose.
Stocks may be purchased in either the primary or the secondary market. The primary market is a market in which all investor purchases financial securities (via an investment bank or other representative) directly from the issuer of those securities. Usually, an investment-banking firm an organization that assists corporations in raising funds — is involved in the marketing and distribution process. A corporation can also obtain equity by selling securities directly to current stockholders.
The secondary market involves transactions for existing securities that are currently traded between investors and are usually bought and sold through a securities exchange or the over-the-counter market. Securities exchanges are marketplaces where members buy and sell securities for their clients. The New York Stock Exchange is the largest in the United States; it accounts for about 50 percent of stock bought and sold in the United States. Other securities exchanges include the American Stock Exchange and several regional exchanges. The over-the-counter market is a network of account executives(stockbrokers) who buy and sell the securities that are not traded in exchanges. If you invest in securities, chances are that you will use the services of an account executive who works for a brokerage firm. Most full-service account executives not only process your orders to buy and sell securities but also provide valuable information and advice. For these services, they are paid a commission based on the size and value of tile transaction. An investor should choose an account executive who is ethical ,compatible, and able to provide the level of service required by the investor. Personal investment planning begins with formulating measurable and realistic investment goals. A personal investment plan is then designed to implement those goals. Many financial planners suggest, as a first step, that the investor establish an emergency fund equivalent to three to six months' living expenses. Then additional funds may be invested according to the investment plan. Finally, all investments should be carefully monitored and, if necessary, the investment plan should be modified.
Depending on their particular investment goals, investors seek varying degrees of safety, income, growth, and liquidity from their investments. Safety is, in essence ,freedom from the risk of loss. Generally, the greater the risk, the greater should be the potential return on all investment.
Income is the periodic return from all investment. Growth is an increase in the value of the investment. Liquidity is defined as the ease with which an asset can be converted into cash. Among the traditional investment alternatives are bank accounts, corporate bonds, government bonds, common stock, preferred stock, mutual funds, and real estate. High-risk investment techniques can provide greater returns, but they entail greater risk of loss. They include buying stock on margin, selling short, and trading incommodities and options.
Information on securities and the firms that issue them can be obtained from the newspapers, brokerage-firm reports, business periodicals, corporate reports, and investors’ services. Most local newspapers report daily securities transactions and stock indexes, or averages. The averages indicate price trends but reveal nothing about the performance of individual stocks. State and federal regulations protect investors from unscrupulous securities trading practices. Federal laws, which are enforced by the Securities and Exchange Commission, require the registration of new securities, the publication and distribution of prospectuses, and the registration of brokers and securities deale
A．Most full-service account executives can process your orders to buy and sell securities.
B．You can pay the full-service account executives commission whatever you wish.
C．Full-service account executives should be ethnical, compatible and able to provide the level of service required by the investor.
D．Most full-service account executives can provide valuable information and advice.
F: Stockholders can transfer shares of stock to others without causing the termination of the corporation. Major stock exchanges list the latest selling price for thousands of stocks by the minute, and they provide a ready market for buyers and sellers. The withdrawal is easy compared to the other forms of ownership because the sale of an owner's stock does not dissolve the corporation. A proprietor can have a brain-storm over a ham sandwich at lunch. Make a decision. And act on it before the end of the day. But corporations have many departments, committees, and beards that must approve major projects before actions can be taken.
M: Unlike proprietorships and partnerships, a corporation can last indefinitely. While some charters specify the length of life of the company, most assume an indefinite life span. The existence of the corporation is unaffected by the death or withdrawal of its stockholders. The government creates the corporation as an artificial being and feeds its offspring with dozens of rules and regulations. Many of these regulations apply to all organizations, but enforcement is focused on the larger corporations. In order to comply with all the regulations, corporations spend a good deal interpreting laws, maintaining records, and reporting to government agencies.
F: Corporations have a large advantage in obtaining more money for expansion. They can raise money more easily because its stock and bonds are bought and sold in public markets such as stock exchanges. The price of ownership is known, and when the company wants to raise new funds, it can sell new shares or bonds to the public and attract funds from both domestic and foreign investors. The larger a corporation becomes, the more sources of financing are available to it. The corporation is treated as a legal entity and must pay taxes on its taxable income. When after-tax corporate profits are paid out in dividends to the stockholders, the dividends are taxed a second time as part of the individual owner's income. Thus owners pay taxes twice on corporate profits.
M: While all corporations are not large, most large businesses are corporations. Large size offers the advantage of economical production methods; large companies can buy materials, manufacture products, and ship finished goods
in bulk. But even more important is the ability to specialize. This potential, combined with the ability to pay higher salaries and offer attractive fringe benefits, gives the corporation an advantage in hiring and keeping top-rate employees. A corporation is more costly and difficult to create than other forms of~ ownership. Preparing the articles of incorporation, developing a prospectus for potential owners, complying with regulations on stock issues, and registering in other states is costly and time consuming. Filing fees, lawyer expenses, and promotion costs can be expensive.
&8226;You will hear five different business people talking about corporations.
&8226;For each extract there are two tas
Perpetual bonds are called______.
A．municipal bonds
B．zero-coupon bonds
C．infinite bonds
D．consols
