A Company Becomes a Reporting Company Subject to the Exchange

Multiple Choice

A company becomes a reporting company subject to the Exchange Act if: (1) a class of its equity securities (other than exempted securities) is held by either __________ investors or __________ investors who are not accredited investors, and (2) on the last day of the issuer's fiscal year, its total assets exceed $10 million.

A) 2000, 500
B) 1000, 500
C) 1000, 250
D) 2500, 250