1. Evaluating the firm's stock price by the equity value (on a per share basis) as reported on the firm's balance sheet usually yields an estimate close to the intrinsic value?

a) True

b) False

2. Partial evidence against the efficient market hypotheses is that research documents the impact of factors traditionally found in clinical psychology on market prices.

a) True

b) False

3. An agency cost that arises out of the stockholder-manager relationship is one where managers benefit personally at the expense of shareholders.

a) True

b) False