Question 1

Which one of the following is not a characteristic of the Public Company Accounting Oversight Board?

Accepted Answer

A) Minimizes self-regulation in the accounting profession. 
B) Has the authority to amend,modify,repeal,or reject any auditing standard of the ASB. 
C) Only one member can be an accountant,past or present. 
D) SEC has oversight and enforcement authority over the Board. 
E) Enforces auditing,quality control,and independence standards and rules. 
A) Minimizes self-regulation in the accounting profession. 
B) Has the authority to amend,modify,repeal,or reject any auditing standard of the ASB. 
C) Only one member can be an accountant,past or present. 
D) SEC has oversight and enforcement authority over the Board. 
E) Enforces auditing,quality control,and independence standards and rules.

Question 2

What is blue sky legislation?

Accepted Answer

Blue sky legislation represent

Question 3

Which one of the following forms is used in connection with registration of securities of small businesses with less than $25 million of annual revenues and of voting securities held by nonaffliates.

Accepted Answer

A) S-8. 
B) S-11. 
C) S-4. 
D) SB-1. 
E) SB-2. 
A) S-8. 
B) S-11. 
C) S-4. 
D) SB-1. 
E) SB-2.

Question 4

What is shelf registration?

Accepted Answer

Shelf registration is a proced

Question 5

How has the Sarbanes-Oxley Act of 2002 changed the role of the audit committee?

Accepted Answer

The audit committee is now responsible f

Question 6

Which one of the following forms is used in connection with employee stock plans?

Accepted Answer

A) S-8. 
B) S-6. 
C) S-4. 
D) SB-1. 
E) S-11. 
A) S-8. 
B) S-6. 
C) S-4. 
D) SB-1. 
E) S-11.

Question 7

What are accredited investors?

Accepted Answer

Banks,insurance companies,and

Question 8

What is the purpose of the SEC's Regulation S-K?

Accepted Answer

Regulation S-K estab

Question 9

Name the two broad categories of filings with the SEC.

Accepted Answer

Registrati

Question 10

What is required by the Trust Indenture Act of 1939?

Accepted Answer

The Trust Indenture Act of 193

Question 11

What Federal agency has Congressional responsibility to create auditing and accounting standards?

Accepted Answer

The answer of What Federal agency has Congressional responsibility to...

Question 12

Which one of the following requires the registration of mutual funds that engage in investing and trading securities?

Accepted Answer

A) The Securities Act of 1933. 
B) The Securities Exchange Act of 1934. 
C) The Investment Company Act of 1940. 
D) The Foreign Corrupt Practices Act of 1977. 
E) The Sarbanes-Oxley Act of 2002. 
A) The Securities Act of 1933. 
B) The Securities Exchange Act of 1934. 
C) The Investment Company Act of 1940. 
D) The Foreign Corrupt Practices Act of 1977. 
E) The Sarbanes-Oxley Act of 2002.

Question 13

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

Accepted Answer

A) within forty-five days of the end of any quarter other than the fourth quarter of the fiscal year. 
B) within ninety days of the end of the fiscal year. 
C) within fifteen days of the occurrence of certain significant events. 
D) within sixty days of the end of the fiscal year. 
E) when a relatively small company intends to issue securities. 
A) within forty-five days of the end of any quarter other than the fourth quarter of the fiscal year. 
B) within ninety days of the end of the fiscal year. 
C) within fifteen days of the occurrence of certain significant events. 
D) within sixty days of the end of the fiscal year. 
E) when a relatively small company intends to issue securities.

Question 14

What information needs to be included in Form 10-Q?

Accepted Answer

Information in Form 10-Q includes the fo

Question 15

Briefly describe Regulation S-K.What is its purpose?

Accepted Answer

Regulation S-K establishes requirements

Question 16

What was the purpose of the Securities Exchange Act of 1934?

Accepted Answer

The purpose of the Securities

Question 17

Filings with the SEC are divided generally into two broad categories:

Accepted Answer

A) Registration statements and perpetual filings. 
B) Reconciliation statements and periodic filings. 
C) Registration statements and periodic filings. 
D) Registration filings and reconciliation statements. 
E) Reconciliation filings and perpetual filings. 
A) Registration statements and perpetual filings. 
B) Reconciliation statements and periodic filings. 
C) Registration statements and periodic filings. 
D) Registration filings and reconciliation statements. 
E) Reconciliation filings and perpetual filings.

Question 18

What is private placement of securities?

Accepted Answer

A) a procedure that allows a company to register securities and then sell them over a period of two years without reregistering. 
B) a procedure that allows the sale of securities to a small group of knowledgeable investors without any general solicitation. 
C) a method of filing Form 10-K with the SEC. 
D) the registration of mutual funds that engage in investing and trading securities. 
E) a sale of securities to 35 or fewer accredited investors. 
A) a procedure that allows a company to register securities and then sell them over a period of two years without reregistering. 
B) a procedure that allows the sale of securities to a small group of knowledgeable investors without any general solicitation. 
C) a method of filing Form 10-K with the SEC. 
D) the registration of mutual funds that engage in investing and trading securities. 
E) a sale of securities to 35 or fewer accredited investors.

Question 19

The SEC has usually restricted its role in establishing accounting principles to

Accepted Answer

A) specifying the information that should be included in interim financial statements. 
B) developing definitions of key accounting terms. 
C) developing accounting standards for particular industries. 
D) determining required disclosures. 
E) the promulgation and issuance of SASs (Securities Accounting Standards). 
A) specifying the information that should be included in interim financial statements. 
B) developing definitions of key accounting terms. 
C) developing accounting standards for particular industries. 
D) determining required disclosures. 
E) the promulgation and issuance of SASs (Securities Accounting Standards).

Question 20

A proxy statement must be filed with the SEC at least how many days before being distributed?

Accepted Answer

A) 30. 
B) 60. 
C) 10. 
D) 90. 
E) 7) 
A) 30. 
B) 60. 
C) 10. 
D) 90. 
E) 7)

Which one of the following is not a characteristic of the Public Company Accounting Oversight Board?

What is blue sky legislation?

Which one of the following forms is used in connection with registration of securities of small businesses with less than $25 million of annual revenues and of voting securities held by nonaffliates.

What is shelf registration?

How has the Sarbanes-Oxley Act of 2002 changed the role of the audit committee?

Which one of the following forms is used in connection with employee stock plans?

What are accredited investors?

What is the purpose of the SEC's Regulation S-K?

Name the two broad categories of filings with the SEC.

What is required by the Trust Indenture Act of 1939?

What Federal agency has Congressional responsibility to create auditing and accounting standards?

Which one of the following requires the registration of mutual funds that engage in investing and trading securities?

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

What information needs to be included in Form 10-Q?

Briefly describe Regulation S-K.What is its purpose?

What was the purpose of the Securities Exchange Act of 1934?

Filings with the SEC are divided generally into two broad categories:

What is private placement of securities?

The SEC has usually restricted its role in establishing accounting principles to

A proxy statement must be filed with the SEC at least how many days before being distributed?

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

Filters

Exam 12: Financial Reporting and the Securities and Exchange Commission

Which one of the following is not a characteristic of the Public Company Accounting Oversight Board?

What is blue sky legislation?

Which one of the following forms is used in connection with registration of securities of small businesses with less than $25 million of annual revenues and of voting securities held by nonaffliates.

What is shelf registration?

How has the Sarbanes-Oxley Act of 2002 changed the role of the audit committee?

Which one of the following forms is used in connection with employee stock plans?

What are accredited investors?

What is the purpose of the SEC's Regulation S-K?

Name the two broad categories of filings with the SEC.

What is required by the Trust Indenture Act of 1939?

What Federal agency has Congressional responsibility to create auditing and accounting standards?

Which one of the following requires the registration of mutual funds that engage in investing and trading securities?

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

What information needs to be included in Form 10-Q?

Briefly describe Regulation S-K.What is its purpose?

What was the purpose of the Securities Exchange Act of 1934?

Filings with the SEC are divided generally into two broad categories:

What is private placement of securities?

The SEC has usually restricted its role in establishing accounting principles to

A proxy statement must be filed with the SEC at least how many days before being distributed?

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

Filters