Exam 12: Financial Reporting and the Securities and Exchange Commission

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Lechter Co.is preparing to issue stock.Its revenues for last year were $85,000,000,and it had $52,000,000 in stock held by nonaffiliates.The company had been filing with the SEC for eight years.Which one of the following forms should have been used for registration?

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Question 1

Correct Answer:

Verified

What was the purpose of the Securities Act of 1933?

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Question 2

Correct Answer:

Verified

The purpose of the Securities Act of 1933 was to regulate initial offerings of securities by a company or underwriter.

Which statement is false regarding the registration of public accounting firms with the SEC under the Sarbanes-Oxley Act?

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Question 3

Correct Answer:

Verified

Who has the responsibility for the evaluation of the quality of an investment?

(Essay)

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Question 4

What is the primary focus of the Sarbanes-Oxley Act?

(Multiple Choice)

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Question 5

Which statement is false regarding the Sarbanes-Oxley Act of 2002?

(Multiple Choice)

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Question 6

When must Form 8-K be filed with the SEC?

(Essay)

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Question 7

Regulation S-X specifies

(Multiple Choice)

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Question 8

Which of the following is not a security as defined by the SEC?

(Multiple Choice)

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Question 9

The prospectus part of a registration contains all except which of the following?

(Multiple Choice)

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Question 10

Which one of the following forms is used when no other form is prescribed?

(Multiple Choice)

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Question 11

Which one of the following forms is used by small business issuers in connection with registration of securities to be sold for cash?

(Multiple Choice)

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Question 12

Which one of the following is not a prescribed event for the filing of Form 8-K?

(Multiple Choice)

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Question 13

Which one of the following is not listed in the text as a division of the SEC?

(Multiple Choice)

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Question 14

Which one of the following forms is used by small business issuers to register securities to be sold for cash?

(Multiple Choice)

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Question 15

The SEC's operations are supported through

(Multiple Choice)

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Question 16

What is shelf registration?

(Multiple Choice)

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Question 17

Which of the following are issued as needed by the SEC to supplement Regulation S-X and Regulation S-K?

(Multiple Choice)

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Question 18

A letter of comments would be issued by the SEC

(Multiple Choice)

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Question 19

Why is the SEC's Rule 14c-3 important to the accounting profession?

(Essay)

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Question 20

Showing 1 - 20 of 74

Lechter Co.is preparing to issue stock.Its revenues for last year were $85,000,000,and it had $52,000,000 in stock held by nonaffiliates.The company had been filing with the SEC for eight years.Which one of the following forms should have been used for registration?

What was the purpose of the Securities Act of 1933?

Which statement is false regarding the registration of public accounting firms with the SEC under the Sarbanes-Oxley Act?

Who has the responsibility for the evaluation of the quality of an investment?

What is the primary focus of the Sarbanes-Oxley Act?

Which statement is false regarding the Sarbanes-Oxley Act of 2002?

When must Form 8-K be filed with the SEC?

Regulation S-X specifies

Which of the following is not a security as defined by the SEC?

The prospectus part of a registration contains all except which of the following?

Which one of the following forms is used when no other form is prescribed?

Which one of the following forms is used by small business issuers in connection with registration of securities to be sold for cash?

Which one of the following is not a prescribed event for the filing of Form 8-K?

Which one of the following is not listed in the text as a division of the SEC?

Which one of the following forms is used by small business issuers to register securities to be sold for cash?

The SEC's operations are supported through

What is shelf registration?

Which of the following are issued as needed by the SEC to supplement Regulation S-X and Regulation S-K?

A letter of comments would be issued by the SEC

Why is the SEC's Rule 14c-3 important to the accounting profession?

The Equity Method of Accounting for Investments

Consolidation of Financial Information

Consolidations - Subsequent to the Date of Acquisition

Consolidated Financial Statements and Outside Ownership

Consolidated Financial Statements - Intercompany Asset Transactions

Variable Interest Entities, intercompany Debt, consolidated Statement of Cash Flows, and Other Issues

Consolidated Financial Statements - Ownership Patterns and Income Taxes

Segment and Interim Reporting

Foreign Currency Transactions and Hedging Foreign Exchange Risk

Translation of Foreign Currency Financial Statements

Worldwide Accounting Diversity and International Accounting Standards

Accounting for Legal Reorganizations and Liquidations

Partnerships: Formation and Operation

Partnerships: Termination and Liquidation

Accounting for State and Local Governments, Part I

Accounting for State and Local Governments,part II

Accounting for Not-For-Profit Organizations

Accounting for Estates and Trusts

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