The value of a future cash flow today is its ______ and is found by the process of ______

What are the sources of capital for a firm?

Earlier this year, you had to make a decision to buy a stock and it is now the end of the year. You know that the stock that was under consideration at the beginning of the year had an expected return of 12% at the time of purchase. You estimated the required return of the stock to be 10%. You have now calculated the realized return of the stock to be 14%. At the beginning of the year, you made a purchase decision by comparing ________ returns. Based on these returns, your initial decision was a ________ decision.

Operating leverage is caused by a firm using ______ since this causes a ______ cost. 

Bondholders are best described as ______ of a firm and shareholders are best described as ______ of a firm.

________ return is weighted average of what an investor expects to earn in the future and ________ return is a historical return measure of what has been earned in the past.

The cost of capital (WACC) is best described as ______. 

_______ risk is associated with the market and this _______ affected by diversifying your portfolio.

A low standard deviation indicates a _______ amount of deviation between the average observation and the individual observation. A low-risk stock will have a _______ standard deviation.

Transactions between investors occur in ________ markets while transactions between a firm and an investor occurs in ________ markets.