Concept Questions

8.3a What is the difference between a securities broker and a securities dealer? 8.3b Which is bigger, the bid price or the ask price? Why?

8.3c What are the four types of members of the New York Stock Exchange, or NYSE? 8.3d How does Nasdaq differ from the NYSE?

Ross et al.: Fundamentals I III. Valuation of Future I 8. Stock Valuation I I © The McGraw-Hill of Corporate Finance, Sixth Cash Flows Companies, 2002

Edition, Alternate Edition

264 PART THREE Valuation of Future Cash Flows

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