Fill-in Problems (5 points) 20. List five (5) motives discussed in class for preferring the use internal financing. a) e) 1 True False True/False (2 points each) 21. Under the concept of an efficient market, a random walk in stock prices means that there is no driving force behind price changes. 6 22. Different classes of stock are usually issued to maintain ownership control by holding the class of stock with greater voting rights. True (False 23. Payment of interest on debt is considered an expense while payment of dividends is considered a return on capital. True False (True False 24. An equity issue sold to the firm's existing shareholders of a publicly treaded is called a private placement. 25. Clienteles should be a primary focus of corporate dividend policy. True (False