Accounting Quiz7

10 Questions | Total Attempts: 345

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Accounting Quizzes & Trivia

Questions and Answers
  • 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.