Private placements are less marketable than registered securities.

____ training is a structured process by which people become skilled workers through a combination of formal classroom instruction and long-term on-the-job training, often under the tutelage of a master craftsman.

Fill in the blank(s) with the appropriate word(s).

The break-even level of revenues represents the point at which the firm has:

A) Zero pretax profit. B) Zero net present value. C) covered all fixed and variable costs. D) Covered all opportunity costs.