The common stock of Pierson Enterprises has historically had a high dividend yield and is expected to continue to do so

The common stock of Pierson Enterprises has historically had a high dividend yield and is expected to continue to do so. As a result, the majority of its shareholders are individuals and entities that are seeking a regular source of cash income. Most of these shareholders pay either no taxes or a relatively low amount of taxes. The fact that most of these shareholders have similar characteristics is referred to by which one of the following terms?    A.  information content effect B.  clientele effect C.  efficient markets hypothesis D.  distribution effect E.  market reaction effect Refer to section 17.5

11.	HJ Corporation has excess cash and has opted to buy some of its shares of outstanding common stock. What is this process of buying called?    A.  stock dividend B.  stock split C.  stock repurchase D.  stock recap E.  stock repeal Refer to section 17.6

12.	Which one of the following involves a payment in shares by a stock issuer that increases the number of shares a shareholder owns but also decreases the value per share?    A.  cash dividend B.  stock dividend C.  stock repurchase D.  stock split E.  reverse stock split Refer to section 17.8

13.	Which one of the following does not affect the total equity of a firm but does increase the number of shares outstanding?    A.  special dividend B.  stock split C.  share repurchase D.  rights offer E.  liquidating dividend Refer to section 17.8

14.	Bell Weather Markets has recently sold for as little as $8 a share and as much as $15 a share. The difference between these two prices is referred to as the:    A.  price variance. B.  bid-ask spread. C.  trading range. D.  opening price. E.  closing price. Refer to section 17.8