1) Due to unstable world markets, most large U.S. corporations do almost all of their
business in the United States.
2) In theory, shareholders select the board of directors, but in reality, management
effectively selects the directors.
3) S-type corporations and limited liability companies are taxed like partnerships, but
have the advantage of limited liability for their owners.
4) U.S. Treasury Bills, bankers’ acceptances and commercial paper are all sold on a
discount basis.
5) The investment banker performs three basic functions: (1) underwriting, (2)
distributing, and ( advising.