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A large manufacturing company has current assets of approximately $9,400,000 and current liabilities of about $4,900,000.
Which of the following statements is true about the current ratio?
it is somewhat below the standard minimum. The standard minimum current ratio for a manufacturing company is 2 to 1. The current ratio for this company is 1.92 (9,400,000 divided by 4,900,000).
With the Regulation T requirement at 50%, a firm wishes to impose house rules that require a minimum equity of 40%.
Which of the following is true?
this is permissible. Firms may establish house rules as long as they are at least as strict as the minimum maintenance requirements. Reg T only dictates an initial requirement and does not address minimum equity.
In mid-September, Bubba sells one XYZ February 50 call at $6. It subsequently expires without being exercised.
How is the premium taxed?
the $600 premium is capital gain. That's simply how the tax law works.
To qualify as an intrastate offering under SEC Rule 147, which of the following is true of the issue?
it must be sold only to bona fide residents of one state. Under Rule 147 intrastate offerings are sold only to residents of one state and cannot be sold outside that state for nine months. All the other choices are incorrect about the rule.
The Securities Act of 1933 provides for:
regulation of new issues of securities. The first two choices are covered in the Securities and Exchange Act of 1934.
