Assume that you manage a $3 million portfolio that pays no dividends and has a beta of 1.45 and an alpha of 1.5% per month. Also, assume that the risk-free rate is 0.025% (per month) and the S&P 500 is at 1,220. If you expect the market to fall within the next 30 days, you can hedge your portfolio by ______ S&P 500 futures contracts (the futures contract has a multiplier of $250) .

A) selling 1
B) selling 14
C) buying 1
D) buying 14
E) selling 6

Brislin Humphreys and Watkins share income and losses in a ratio of 3:2:5 respectively. The capital account balances of the partners are as follows:
Instructions
Prepare the journal entry on the books of the partnership to record the withdrawal of Watkins under the following independent circumstances:
1. The partners agree that Watkins should be paid $280000 by the partnership for his interest.
2. The partners agree that Watkins should be paid $220000 by the partnership for his interest.
3. Brislin agrees to pay Watkins $180000 for one-half of his capital interest and Heller agrees to pay Watkins $180000 for one-half of his capital interest in a personal transaction among the partners.

Closing entries result in the transfer of net income or loss into the Retained Earnings account.

_______________ is the focus of corporate finance as it is concerned with making the optimal choice between project alternatives.

A) Capital budgeting.
B) Capital structure.
C) Payback period.
D) Short-term budgeting.
E) Capital Allocation.

Journalizing and posting closing entries must be completed before financial statements can be prepared.

A distance of up to two feet, or about arm's length, around an individual is defined as:

A) controlled space.
B) consensual distance.
C) close space.
D) intimate space.
E) adjacency.

The basic assumption of __________ is that all customers in the market have similar needs and wants that can be reasonably satisfied with a single marketing program.

A) holistic marketing
B) mass marketing
C) market concentration
D) focused marketing
E) single segment marketing