sthecasefortheSECdefinitions(seeProblem17),theSIAdefinessavingandinvestingasacquisitionofalternativekindsoffinancialassets.AccordingtotheSIA,savingistheprocessofacquiringsafeassets,generallyfromabank,whileinvestingistheacquisitionofotherfinancialassets,suchasstocksandbonds.Ontheotherhand,thedefinitionsinthechapterindicatethatsavingmeansspendinglessthanone’e.Investingistheprocessofallocatingone’ssavingsamongfinancialassets,ounts(“saving”accordingtotheSIA),otherfinancialassetssuchasstocksandbonds(“investing”accordingtotheSIA),aswellasrealassets.CHAPTER2:ASSETCLASSESANDFINANCIALINSTRUMENTSPROBLEMSETS1.?Preferredstockislikelong-termdebtinthatittypicallypromisesafixedpaymenteachyear.Inthisway,itisaperpetuity.Preferredstockisalsolikelong-termdebtinthatitdoesnotgivetheholdervotingrightsinthefirm.
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