A firm which employs a restrictive short-term financial policy will have a relatively:

• A.low amount of short-term debt and high ratio of current assets to sales.
• B.high amount of marketable securities.
• C.high amount of short-term debt relative to long-term debt.

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Lionel Stein currently works for JHK Bank managing private client's money. Lionel decides to change
Banks and go and manage private client accounts for RTU Bank. Just prior to leaving JHK Lionel convinces several current clients to move to RTU with him. In addition Lionel convinces several prospective clients that he presented to at JHK to open private accounts with RTU. Has Lionel violated the
Code and Standards?

• A.No, members are entitled to solicit current and prospective clients while they still work for their current employer.
• B.Yes, since members are not entitled to solicit current or prospective clients while they still work for their current employer.
• C.Yes, since members are not entitled to solicit current clients while they still work for their current employer, but they are entitled to solicit prospective clients while they still work for their current employer.

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A firm made donations of $50,000 this year. The donations were expensed for financial reporting purposes but not allowed so for tax purposes. The tax base and carrying amount of this item are:

• A.$0 | $0.
• B.$50,000 | $0.
• C.$0 | $50,000.

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A security issued in the United States that represents shares of stock in a foreign company is called:

• A.American Depository Receipts (ADRs)
• B.Euros
• C.A bought deal

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