1. A firm's permanent working capital refers to the:
difference between fixed assets and current assets.
maximum difference between current assets and current liabilities.
portion of net working capital that is financed from long-term sources.
amounts that must be held to meet debt covenants.
2. Which of the following would not be considered a capital market security?
a 20-year corporate bond
a common stock
a 6-month Treasury bill
a mutual fund share