4 (a) Explain the meaning of the term ‘working capital cycle’ for a trading company. (4 marks)
(b) Explain the meaning of the term ‘Efficient Market Hypothesis’ and discuss the implications for a company if
the stock market on which it is listed has been found to be semi-strong form. efficient. (9 marks)
A、. USA, “to tell”
B、Latin, “to tell”
C、Latin, “to explain”
D、USA, “to explain”
Directions:
In your essay, you should
1) describe the drawing briefly,
2) explain its intended meaning, and then
3) give your comments.
You should write neatly on ANSHWER SHEET 2. (20 points)
(b) Explain the meaning of Stephanie’s comment: ‘I would like to get risk awareness embedded in the culture
at the Southland factory.’ (5 marks)
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