Question 1

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 2

What is shelf registration?

Accepted Answer

Shelf registration is a proced

Question 3

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

Accepted Answer

Information in Form 10-Q includes the fo

Question 4

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

Accepted Answer

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

Question 5

What information is required in proxy statements? (1) Five-year summary of operations.
(2) Five-year summary of industry segments.
(3) Listing of company directors and executive officers.
(4) Management discussion and analysis (MD&A).

Accepted Answer

A)  1, 2 and 3. 
B)  2, 3 and 4. 
C)  1, 3 and 4. 
D)  1, 2 and 4. 
E)  1, 2, 3, and 4. 
A)  1, 2 and 3. 
B)  2, 3 and 4. 
C)  1, 3 and 4. 
D)  1, 2 and 4. 
E)  1, 2, 3, and 4.

Question 6

A letter of comments would be issued by the SEC

Accepted Answer

A)  to request clarification of a registration statement. 
B)  to convey your pertinent comments to the SEC. 
C)  in response to a company's filing of Form 8-K. 
D)  after receiving the company's Form 10-K. 
E)  to indicate that a registration statement has been approved. 
A)  to request clarification of a registration statement. 
B)  to convey your pertinent comments to the SEC. 
C)  in response to a company's filing of Form 8-K. 
D)  after receiving the company's Form 10-K. 
E)  to indicate that a registration statement has been approved.

Question 7

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

Accepted Answer

A proxy is a form signed by the sharehol

Question 8

How has the SEC exercised its power with regard to the continuing evolution of accounting principles? 1. Issuing Financial Reporting Releases (FRRs).
2) Requiring additional disclosures in notes to financial statements.
3) Declaring a moratorium on the use of specified accounting practices.
4) Overruling the FASB.

Accepted Answer

A)  1 and 4. 
B)  1, 3, and 4. 
C)  1 and 3. 
D)  1, 2, and 4. 
E)  1, 2, 3, and 4. 
A)  1 and 4. 
B)  1, 3, and 4. 
C)  1 and 3. 
D)  1, 2, and 4. 
E)  1, 2, 3, and 4.

Question 9

Regulation S-X specifies:

Accepted Answer

A)  requirements for the nonfinancial information to be filed with the SEC. 
B)  which form a company must file to register new securities. 
C)  that the financial statements included in a company's annual report must be audited. 
D)  the form and content of financial statements to be filed with the SEC. 
E)  the internal controls a publicly traded company must maintain. 
A)  requirements for the nonfinancial information to be filed with the SEC. 
B)  which form a company must file to register new securities. 
C)  that the financial statements included in a company's annual report must be audited. 
D)  the form and content of financial statements to be filed with the SEC. 
E)  the internal controls a publicly traded company must maintain.

Question 10

Name the two broad categories of filings with the SEC.

Accepted Answer

Registrati

Question 11

Audited financial statements in an annual report of an issuer that is subject to SEC regulation must include:

Accepted Answer

A)  three balance sheets, three income statements, and three statements of cash flows. 
B)  three balance sheets, two income statements, and two statements of cash flows. 
C)  one balance sheet, one income statement, and one statement of cash flows. 
D)  two balance sheets, three income statements, and three statements of cash flows. 
E)  two balance sheets, two income statements, and two statements of cash flows. 
A)  three balance sheets, three income statements, and three statements of cash flows. 
B)  three balance sheets, two income statements, and two statements of cash flows. 
C)  one balance sheet, one income statement, and one statement of cash flows. 
D)  two balance sheets, three income statements, and three statements of cash flows. 
E)  two balance sheets, two income statements, and two statements of cash flows.

Question 12

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

Accepted Answer

A)  $200,000. 
B)  $400,000. 
C)  $500,000. 
D)  $1,000,000. 
E)  $2,000,000. 
A)  $200,000. 
B)  $400,000. 
C)  $500,000. 
D)  $1,000,000. 
E)  $2,000,000.

Question 13

Which one of the following Federal laws was enacted in 1935?

Accepted Answer

A)  Securities Act. 
B)  Securities Exchange Act. 
C)  Trust Indenture Act. 
D)  Investment Company Act. 
E)  Public Utility Holding Company Act. 
A)  Securities Act. 
B)  Securities Exchange Act. 
C)  Trust Indenture Act. 
D)  Investment Company Act. 
E)  Public Utility Holding Company Act.

Question 14

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

Accepted Answer

A)  Accounting standards and the registration of securities. 
B)  Regulation of the continuous reporting by publicly owned companies. 
C)  Accounting standards and registration of investment companies that engage in investing and trading in securities. 
D)  Accounting standards and penalties against persons who profit from illegal use of inside information. 
E)  Regulation of independent audit firms and audit standards. 
A)  Accounting standards and the registration of securities. 
B)  Regulation of the continuous reporting by publicly owned companies. 
C)  Accounting standards and registration of investment companies that engage in investing and trading in securities. 
D)  Accounting standards and penalties against persons who profit from illegal use of inside information. 
E)  Regulation of independent audit firms and audit standards.

Question 15

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

Accepted Answer

The answer of Who has the responsibility for the evaluation...

Question 16

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

Accepted Answer

A)  SABs. 
B)  ASRs. 
C)  FRRs. 
D)  ARBs. 
E)  SRBs. 
A)  SABs. 
B)  ASRs. 
C)  FRRs. 
D)  ARBs. 
E)  SRBs.

Question 17

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 sophisticated 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 sophisticated 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 18

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

Accepted Answer

The Division of Corporation Finance has

Question 19

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

Accepted Answer

Rule 14c-3 is important to the

Question 20

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

Accepted Answer

Form 8-K must be filed with the SEC with

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

What is shelf registration?

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

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

What information is required in proxy statements? (1) Five-year summary of operations. (2) Five-year summary of industry segments. (3) Listing of company directors and executive officers. (4) Management discussion and analysis (MD&A).

A letter of comments would be issued by the SEC

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

Regulation S-X specifies:

Name the two broad categories of filings with the SEC.

Audited financial statements in an annual report of an issuer that is subject to SEC regulation must include:

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

Which one of the following Federal laws was enacted in 1935?

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

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

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

What is private placement of securities?

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

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

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

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

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

Accounting for State and Local Governments

Accounting for Not-For-Profit Organizations

Accounting for Estates and Trusts

Filters

Exam 12: Financial Reporting and the Securities and Exchange Commission

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

What is shelf registration?

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

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

What information is required in proxy statements? (1) Five-year summary of operations. (2) Five-year summary of industry segments. (3) Listing of company directors and executive officers. (4) Management discussion and analysis (MD&A).

A letter of comments would be issued by the SEC

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

Regulation S-X specifies:

Name the two broad categories of filings with the SEC.

Audited financial statements in an annual report of an issuer that is subject to SEC regulation must include:

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

Which one of the following Federal laws was enacted in 1935?

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

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

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

What is private placement of securities?

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

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

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

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

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

Accounting for State and Local Governments

Accounting for Not-For-Profit Organizations

Accounting for Estates and Trusts

Filters