Accounting Quiz10

18 Questions  I  By Baybayev

  
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Question Excerpt

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1.  The SEC has usually restricted its role in establishing accounting principles to
A.
B.
C.
D.
E.
2.  The SEC's role in the initial registration of securities to be publicly issued is:
A.
B.
C.
D.
E.
3.  The goals of the SEC include all except which one of the following?
A.
B.
C.
D.
E.
4.  A letter of comments would be issued by the SEC
A.
B.
C.
D.
E.
5.  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.
A.
B.
C.
D.
E.
6.  EDGAR stands for:
A.
B.
C.
D.
E.
7.  Filings with the SEC are divided generally into two broad categories:
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B.
C.
D.
E.
8.  Regulation S-K:
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B.
C.
D.
E.
9.  Audited financial statements in an annual report of an issuer that is subject to SEC regulation must include:
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B.
C.
D.
E.
10.  The audit committee of an entity subject to SEC regulation will do all of the following except:
A.
B.
C.
D.
E.
11.  Regulation S-X specifies:
A.
B.
C.
D.
E.
12.  A wrap-around filing:
A.
B.
C.
D.
E.
13.  Which one of the following registration statement forms is used by large issuers that already have at least $75 million voting stock held by nonaffiliates?
A.
B.
C.
D.
E.
14.  Information required in proxy statements includes all except which of the following?
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B.
C.
D.
E.
15.  A proxy statement must be filed with the SEC at least how many days before being distributed?
A.
B.
C.
D.
E.
16.  P 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 nonaffiliates. The company had been filing with the SEC for eight years. Which one of the following forms should have been used for registration?
A.
B.
C.
D.
E.
17.  When must Form 8-K be filed with the SEC?
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B.
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D.
E.
18.  When preparing a consolidation worksheet for a parent and its foreign subsidiary accounted for under the equity method, which of the following statements is false?
A.
B.
C.
D.
E.
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