Exam 12: Financial Reporting and the Securities and Exchange Commission

For each of the following situations,select the best answer concerning information forms filed with the SEC: (A. )Form 10-K (B. )Form 10-Q (C. )Form 8-K (D. )Not required ___ 1.A unique or significant happening. ___ 2.Annual information required by Regulation S-X. ___ 3.Changes in control of the registrant. ___ 4.Interim financial statements. ___ 5.Fourth quarter income statement. ___ 6.Bankruptcy. ___ 7.Annual information required by Regulation S-K. ___ 8.Income statement for the current quarter,year-to-date,and comparative periods in the previous year. ___ 9.Changes in bookkeeping staff. ___ 10.Changes in the registrant's external auditor.

What is a wrap-around filing?

What information is required in proxy statements?

A wrap-around filing

EDGAR stands for:

What is the primary focus of the Sarbanes-Oxley Act of 2002?

What are the four interconnected goals that the SEC has tried to achieve?

Which one of the following regulates the initial offering of securities by a company or underwriter?

What is Form 10-K?

What are the responsibilities of the SEC's Division of Corporation Finance?

How are the operations of the SEC funded?

What is a proxy? Briefly explain the importance of a proxy solicitation.

What is the minimum net worth of those who are considered accredited investors?

Name five securities offerings exempt from registration with the SEC.