Question 1

What is included in Part II of a securities registration statement?

Accepted Answer

Part II includes information t

Question 2

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

Accepted Answer

A)  Accounts receivable. 
B)  Notes receivable. 
C)  Treasury stock. 
D)  Debenture. 
E)  Investment contract. 
A)  Accounts receivable. 
B)  Notes receivable. 
C)  Treasury stock. 
D)  Debenture. 
E)  Investment contract.

Question 3

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

Accepted Answer

The regulation of au

Question 4

A wrap-around filing:

Accepted Answer

A)  may be used by large companies to sell securities over a period of two years without refiling with the SEC. 
B)  is a simplified registration procedure for securities to be issued by small companies. 
C)  allows a company to simplify its form 10-K by referring to information in its annual report. 
D)  is a filing completed using the SEC's electronic filing system. 
E)  may remain in effect for a period of one to five years. 
A)  may be used by large companies to sell securities over a period of two years without refiling with the SEC. 
B)  is a simplified registration procedure for securities to be issued by small companies. 
C)  allows a company to simplify its form 10-K by referring to information in its annual report. 
D)  is a filing completed using the SEC's electronic filing system. 
E)  may remain in effect for a period of one to five years.

Question 5

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

Accepted Answer

Form 8-K must be filed with the SEC with

Question 6

What is required by the Trust Indenture Act of 1939?

Accepted Answer

The Trust Indenture Act of 193

Question 7

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 non-affiliates. The company had been filing with the SEC for eight years. Which one of the following forms should have been used for registration?

Accepted Answer

A)  S-1. 
B)  S-3. 
C)  S-4. 
D)  S-8. 
E)  S-11. 
A)  S-1. 
B)  S-3. 
C)  S-4. 
D)  S-8. 
E)  S-11.

Question 8

Which statement is false regarding the Public Company Accounting Oversight Board (PCAOB)?

Accepted Answer

A)  regulates audit standards and independent audit firms. 
B)  has five members appointed by the SEC. 
C)  allows all members to be accountants, past or present. 
D)  is under the oversight and enforcement of the SEC. 
E)  is funded by fees levied on all publicly traded companies. 
A)  regulates audit standards and independent audit firms. 
B)  has five members appointed by the SEC. 
C)  allows all members to be accountants, past or present. 
D)  is under the oversight and enforcement of the SEC. 
E)  is funded by fees levied on all publicly traded companies.

Question 9

Which one of the following requires the maintenance of accounting records and adequate internal accounting controls?

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 10

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 11

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

Accepted Answer

Regulation S-K estab

Question 12

What is Form 10-K?

Accepted Answer

A)  a quarterly report filed with the SEC. 
B)  an annual report filed with the SEC. 
C)  a semiannual report filed with the SEC. 
D)  a form filed with the SEC before the company issues stock for the first time. 
E)  a form filed with the SEC before issuing stocks to acquire another company. 
A)  a quarterly report filed with the SEC. 
B)  an annual report filed with the SEC. 
C)  a semiannual report filed with the SEC. 
D)  a form filed with the SEC before the company issues stock for the first time. 
E)  a form filed with the SEC before issuing stocks to acquire another company.

Question 13

Describe the two parts of the SEC registration statement.

Accepted Answer

Part I (the prospectus) contains extensi

Question 14

What was the purpose of the Securities Act of 1933?

Accepted Answer

The purpose of the Securities

Question 15

The audit committee of an entity subject to SEC regulation will do all of the following except:

Accepted Answer

A)  be responsible for agreeing to fee compensation of the independent audit firm. 
B)  sign certification of the annual financial statements. 
C)  be comprised only of individuals who are not members of management. 
D)  approve non-audit services provided by the independent audit firm. 
E)  serve as liaison between the board of directors and the independent audit firm. 
A)  be responsible for agreeing to fee compensation of the independent audit firm. 
B)  sign certification of the annual financial statements. 
C)  be comprised only of individuals who are not members of management. 
D)  approve non-audit services provided by the independent audit firm. 
E)  serve as liaison between the board of directors and the independent audit firm.

Question 16

What is shelf registration?

Accepted Answer

Shelf registration is a proced

Question 17

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.

Question 18

Which one of the following requires the registration of mutual funds that engage in investing and trading in 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 19

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 20

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

Accepted Answer

The four interconnected goals include:
(

What is included in Part II of a securities registration statement?

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

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

A wrap-around filing:

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

What is required by the Trust Indenture Act of 1939?

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 non-affiliates. The company had been filing with the SEC for eight years. Which one of the following forms should have been used for registration?

Which statement is false regarding the Public Company Accounting Oversight Board (PCAOB)?

Which one of the following requires the maintenance of accounting records and adequate internal accounting controls?

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

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

What is Form 10-K?

Describe the two parts of the SEC registration statement.

What was the purpose of the Securities Act of 1933?

The audit committee of an entity subject to SEC regulation will do all of the following except:

What is shelf registration?

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

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

What is private placement of securities?

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

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 Intra-Entity Asset Transactions

Variable Interest Entities, Intra-Entity Debt, Consolidated 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 and Reporting for Private Not-For-Profit Organizations

Accounting for Estates and Trusts

Filters

Exam 12: Financial Reporting and the Securities and Exchange Commission

What is included in Part II of a securities registration statement?

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

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

A wrap-around filing:

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

What is required by the Trust Indenture Act of 1939?

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 non-affiliates. The company had been filing with the SEC for eight years. Which one of the following forms should have been used for registration?

Which statement is false regarding the Public Company Accounting Oversight Board (PCAOB)?

Which one of the following requires the maintenance of accounting records and adequate internal accounting controls?

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

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

What is Form 10-K?

Describe the two parts of the SEC registration statement.

What was the purpose of the Securities Act of 1933?

The audit committee of an entity subject to SEC regulation will do all of the following except:

What is shelf registration?

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

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

What is private placement of securities?

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

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 Intra-Entity Asset Transactions

Variable Interest Entities, Intra-Entity Debt, Consolidated 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 and Reporting for Private Not-For-Profit Organizations

Accounting for Estates and Trusts

Filters