1. Investors who wish to avoid paying taxes in the present are typically ________.
A) high-dividend clientele
B) low-dividend clientele
C) drawn to firms that have erratic dividend policies
D) None of the above
2. Which of the following is generally NOT TRUE of stock repurchase plans?
A) The plan sets a specific time frame for repurchase.
B) Once a plan is announced, the vast majority of firms (in excess of 70%) complete the plans as announced.
C) The plan sets a specific dollar figure (or number shares) to be repurchased.
D) Firms announce buying plans in advance.