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Chapter 12 - Financial Reporting and the Securities and Exchange Commission Chapter 12 Financial Reporting and the Securities and Exchange Commission Multiple Choice Questions 1. Which one of the following is not a division of the SEC? A. The Division of Corporation Finance. B. The Division of Investment Management. C. The Division of Compliance Information. D. The Division of Enforcement. E. The Division of Trading and Markets. 2. The goals of the SEC include all except which one of the following? A. Prohibiting the dissemination of materially misstated information. B. Controlling the number of companies whose stock is listed on major stock exchanges. C. Regulating the operation of securities markets. D. Ensuring that full and fair information is disclosed to all investors before the securities of a company are allowed to be bought and sold. E. Preventing the misuse of information especially by inside parties. 3. Which one of the following Federal laws was enacted in 1935? A. Securities Act. B. Securities Exchange Act. C. Trust Indenture Act. D. Investment Company Act. E. Public Utility Holding Company Act. 4. Regulation S-K : A. controls the listing of securities by stock exchanges. B. establishes requirements for nonfinancial information to be filed with the SEC. C. prescribes the form of financial statements to be filed with the SEC. D. describes the internal controls a publicly traded company must maintain. E. prescribes the financial disclosure information that must be included in filings with the SEC. 12-1 Chapter 12 - Financial Reporting and the Securities and Exchange Commission 5. Which of the following are issued by the SEC, as needed, to supplement Regulation S-X and Regulation S-K ? A. SABs. B. ASRs. C. FRRs. D. ARBs. E. SRBs. 6. Regulation S-X specifies: A. requirements for the nonfinancial information to be filed with the SEC. B. which form a company must file to register new securities. C. that the financial statements included in a company's annual report must be audited. D. the form and content of financial statements to be filed with the SEC. E. the internal controls a publicly traded company must maintain. 7. Which one of the following forms is used when no other form is prescribed? A. S-4. B. S-3. C. S-11. D. S-8. E. S-1. 8. A wrap-around filing : 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.... View Full Document

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