ASU FIN 300 TEST 2026 QUESTIONS AND
ANSWERS SURE A+
✔✔C Corporation - ✔✔The most common type of corporation, which is a legal business
entity that offers limited liability to all of its owners, who are called stockholders
✔✔S Corporation - ✔✔corporation taxed as though it were a partnership with
restrictions on shareholders
✔✔B Corporation - ✔✔a business that explicitly seeks to blend its social objectives with
its financial goals
✔✔The goal of the firm - ✔✔maximize shareholder wealth
✔✔Sarbanes-Oxley Act - ✔✔A law passed by Congress that requires the CEO and
CFO to certify that their firm's financial statements are accurate.
✔✔information asymmetry - ✔✔situation in which one party is more informed than
another because of the possession of private information
✔✔financial asset - ✔✔claim on the property or income of a borrower
✔✔Real Assets - ✔✔assets used to produce goods and services
✔✔primary market - ✔✔market for selling financial assets that can only be redeemed by
the original holder
✔✔secondary market - ✔✔previously issued securities are traded among investors
✔✔money market - ✔✔market in which money is lent for periods of less than a year
ANSWERS SURE A+
✔✔C Corporation - ✔✔The most common type of corporation, which is a legal business
entity that offers limited liability to all of its owners, who are called stockholders
✔✔S Corporation - ✔✔corporation taxed as though it were a partnership with
restrictions on shareholders
✔✔B Corporation - ✔✔a business that explicitly seeks to blend its social objectives with
its financial goals
✔✔The goal of the firm - ✔✔maximize shareholder wealth
✔✔Sarbanes-Oxley Act - ✔✔A law passed by Congress that requires the CEO and
CFO to certify that their firm's financial statements are accurate.
✔✔information asymmetry - ✔✔situation in which one party is more informed than
another because of the possession of private information
✔✔financial asset - ✔✔claim on the property or income of a borrower
✔✔Real Assets - ✔✔assets used to produce goods and services
✔✔primary market - ✔✔market for selling financial assets that can only be redeemed by
the original holder
✔✔secondary market - ✔✔previously issued securities are traded among investors
✔✔money market - ✔✔market in which money is lent for periods of less than a year
