Accounting Quiz7
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- 1.Which one of the following is not a division of the SEC?
- A.
The Division of Investment Management.
- B.
The Division of Enforcement.
- C.
The Division of Corporation Finance.
- D.
The Division of Trading and Markets.
- E.
The Division of Compliance Information.
- 2.Which one of the following is not a prescribed event for the filing of Form 8-K?
- A.
Changes in control of the registrant.
- B.
Changes in the registrant's independent auditor.
- C.
Acquisitions or dispositions of assets.
- D.
Resignation of a middle manager.
- E.
Bankruptcy or receivership.
- 3.Which one of the following is not a prescribed event for the filing of Form 8-K?
- A.
Changes in control of the registrant.
- B.
Changes in the registrant's independent auditor.
- C.
Acquisitions or dispositions of assets.
- D.
Resignation of a middle manager.
- E.
Bankruptcy or receivership.
- 4.Which one of the following is not a characteristic of the Public Company Accounting Oversight Board?
- A.
SEC has oversight and enforcement authority over the Board.
- B.
Enforces auditing, quality control, and independence standards and rules.
- C.
C. Has the authority to amend, modify, repeal, or reject any audit standard of the ASB.
- D.
Only one member can be an accountant, past or present.
- E.
Minimizes self-regulation in the accounting profession.
- 5.Which one of the following regulates the initial offering of securities by a company or underwriter?
- A.
The Investment Advisers Act of 1940.
- B.
The Sarbanes-Oxley Act of 2002.
- C.
The Securities Act of 1933.
- D.
The Securities Exchange Act of 1934.
- E.
The Investment Company Act of 1940.
- 6.Which one of the following regulates the subsequent trading of securities through brokers and exchanges?
- A.
The Investment Advisers Act of 1940.
- B.
The Sarbanes-Oxley Act of 2002.
- C.
The Securities Act of 1933.
- D.
The Securities Exchange Act of 1934.
- E.
The Investment Company Act of 1940.
- 7.Which one of the following requires the maintenance of accounting records and adequate internal accounting controls?
- A.
The Foreign Corrupt Practices Act of 1977.
- B.
The Sarbanes-Oxley Act of 2002.
- C.
The Securities Act of 1933.
- D.
The Securities Exchange Act of 1934.
- E.
The Investment Company Act of 1940.
- 8.Which one of the following requires the audit committee to be responsible for the appointment and compensation of the external auditor?
- A.
The Foreign Corrupt Practices Act of 1977.
- B.
The Sarbanes-Oxley Act of 2002.
- C.
The Securities Act of 1933.
- D.
The Securities Exchange Act of 1934.
- E.
The Investment Company Act of 1940.
- 9.Which one of the following requires the registration of mutual funds that engage in investing and trading in securities?
- A.
The Foreign Corrupt Practices Act of 1977.
- B.
The Sarbanes-Oxley Act of 2002.
- C.
The Securities Act of 1933.
- D.
The Securities Exchange Act of 1934.
- E.
The Investment Company Act of 1940.
- 10.Which one of the following Federal laws was enacted in 1935?
- A.
Securities Act.
- B.
Public Utility Holding Company Act.
- C.
Securities Exchange Act.
- D.
Trust Indenture Act.
- E.
Investment Company Act.
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