Final answer:
The advantage of issuing stock that does not belong to the list is 'return on investment.' Return on investment is a potential benefit for investors, not the company issuing the stock.
Step-by-step explanation:
Advantages of issuing stock include all of the following, except return on investment. When a firm decides to issue stock, it benefits from increased visibility in the financial markets, the ability to access substantial financial capital for expansion without the obligation of repayment, and flexibility in financial planning. However, the firm becomes accountable to a board of directors and the shareholders.
Issuing stock also has associated expenses, requires legal and banking expertise, and necessitates adherence to reporting requirements to shareholders and government agencies like the federal Securities and Exchange Commission (SEC). Unlike other advantages, return on investment is not a guaranteed benefit of issuing stock—it represents the potential gains investors may receive, not a direct advantage for the company issuing the stock.