The payout ratio is determined by dividing cash dividends paid to common stockholders by net income available to common stockholders

The head teller of a bank embezzled $50,000 from the bank. Which insuring agreement in a financial institution bond is designed to cover such losses?

A) Insuring Agreement A—Fidelity B) Insuring Agreement B—On Premises C) Insuring Agreement C—In Transit D) Insuring Agreement D—Forgery or Alteration

According to the Wharton/CIBC Survey of 1998 on hedging, only when a firm is sufficiently large to overcome the fixed costs of hedging does the firm

A) create an international division responsible for hedging. B) institute tax shelters using hedging devices. C) institute a hedging policy. D) hold only the cash manager responsible for hedging.