Day 9 - SEC

Question 1

The Form 8-K is required to be filed by all companies registered with the SEC to report what?

Answer 1

Reports major corporate events including:
- Corporate asset acquisitions/disposals
- Accountant changes
- FS changes
- Management changes
- Changes in securities

Note: Qtrly results are reported on the Form 10-Q

MCQ-08590

Question 2

What form is not required to be included with audited FS, in accordance with the SEC?

Answer 2

Form 6-K - is filed semiannually by foreign private issuers and contains unaudited FS

MCQ-06078

Question 3

Define: Accelerated Filer

Answer 3

An Accelerated Filer is an Issuer:
- with a public equity float of greater than or equal to $75 million
- previously filed at least one Form 10-K (must be filed within 60 days)
- not eligible to file Qtrly and annual reports on Forms 10-QSB and 10-KSB

MCQ-06618

Question 4

Define: Form 10-Q

Answer 4

Qrtly report filed with the SEC that contains unaudited FS prepared using US GAAP reviewed by an independent accountant

Can also contain Interim Period MD&A, and certain disclosures

MCQ-08721

Question 5

When must a larger accelerated filer file Form 10-Q?

Answer 5

within 40 days for large corporations and 45 days for small corporations

MCQ-07215

Question 6

Define: Form 3

Answer 6

is required to be filed by directors, officers, or beneficial owners of a class of equity securities of a registered company

Note: does not contain FS

MCQ-06077

Question 7

Under Regulation S-X, an entity’s annual FS filed with the SEC should include, at a minimum, two:

Answer 7

Balance Sheets for the two most recent fiscal years

&

Three fiscals years of Statements of Income, Changes in Owners Equity, and Cash Flows

MCQ-06080

Question 8

A company that is not subject to seasonal fluctuations is filling the Form 10-Q. In addition to the most recent qtr end, which of the following periods is the company required to present on the BS on Form 10-Q?

Answer 8

The end of the preceding fiscal year

MCQ-06619

Question 9

What is the Form 8-K used for?

Answer 9

Major corporate events:
- Corporate asset acquisitions/disposals
- Accountant changes
- FS changes
- Management changes
- Changes in securities

MCQ-08999

Question 10

In preparing its interim FS, assuming that no changes in accounting principle were implemented, ABC Inc. would apply GAAP:

Answer 10

to the most recent annual report

GAAP that were used in the most recent annual report of ABC, Inc. should be applied to interim FS of the CY unless a change in Accounting Principle is adopted in the CY

MCQ-04466

Question 11

SEC Regulation S-X

Answer 11

Sets forth the form and content of and requirements for Interim and Annual FS to be filed with the SEC

MCQ-03975

Question 12

SEC Regulation S-B

Answer 12

Sets forth the disclosure requirements for Small Business issuers

MCQ-03975

Question 13

SEC Regulation S-K

Answer 13

Sets forth Non-Financial reporting requirements for various SEC filings used by Public Companies

MCQ-03975

Question 14

SEC Regulation S-T

Answer 14

Sets forth rules governing electronic filings

MCQ-03975