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You are comparing three securities and discover they all have identical Treynor ratios. Given this information, which one of the following must be true regarding these three securities?
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A business entity that has recently been formed and has obtained legal recognition from the state.
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A type of business structure that embeds social and environmental objectives into its charter in addition to profit-making goals.
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Objectives that laws and legal systems aim to achieve, such as justice, protection of rights, and maintenance of social order.
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The beneficial effect or outcome that positively affects a community, environment, or individual.
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