Which of the following authentication strategies is the most difficult to forge, crack, or copy and is hence used for physical security?

Gordon's "bird-in-the-hand" argument suggests that ________

A) dividends are irrelevant B) firms should have a 100 percent payout policy C) shareholders are risk averse and attach less risk to current dividends D) the market value of a firm is unaffected by dividend policy

Which of the following is true of Merton's model:

A. The strike price is the market value of the debt B. The strike price is the market value of the equity C. The strike price is the book value of the equity D. The strike price is the face value of the debt