Select the correct answer for each of the following questions.
1. Form 10-K is filed with the SEC to update the information a company supplied when filing a registration statement under the Securities and Exchange Act of 1934. Form 10-K is a report that is filed
a. Annually within 60 days of the end of a company's fiscal year.
b. Semiannually within 30 days of the end of a company's second and fourth fiscal quarters.
c. Quarterly within 45 days of the end of each quarter.
d. Monthly within two weeks of the end of each month.
e. Within 15 days of the occurrence of significant events.
2. The SEC's Regulation S-X disclosure requirements address
a. Changes in and disagreements with accountants on accounting and financial disclosure.
b. Management's discussion and analysis of the financial condition and the results of operations.
c. The requirements for filing interim financial statements and pro forma financial information.
d. Summary information, risk factors, and the ratio of earnings to fixed charges.
e. Information concerning recent sales of unregistered securities.
3. Form 10-Q is filed with the SEC to keep both investors and experts apprised of a company's operations and financial position. Form 10-Q is a report that is filed within
a. 90 days after the end of the fiscal year the report covered.
b. 35 days after the end of each of the first three quarters of each fiscal year.
c. 90 days after the end of an employee stock purchase plan fiscal year.
d. 15 days after the occurrence of a significant event.
e. 60 days after the end of the fiscal year covered by the report.
4. A company registered under the Securities and Exchange Act of 1934 should report a significant event affecting it on
a. Form 10-K.
b. Form 10-Q.
c. Form S-1.
d. Form 8-K.
e. Form 11-K.
5. Within four days after the occurrence of any event that is of material importance to the stockholders, a company must file a Form 8-K information report with the SEC to disclose the event.
An example of the type of event required to be disclosed is
a. A salary increase to the officers.
b. A contract to continue to employ the same certified public accounting firm as in the prior year.
c. A change in projected earnings per share from $12.00 to $12.11 per share.
d. The purchase of bank certificates of deposit.
e. The acquisition of a large subsidiary other than in the ordinary course of business.
6. Form 8-K must generally be submitted to the SEC within four days after the occurrence of a significant event. Which one of the following is not an event that would be reported by Form 8-K?
a. The replacement of the registrant company's external auditor.
b. A change in accounting principle.
c. The resignation of one of the directors of the registrant company.
d. A significant acquisition or disposition of assets.
e. A change in control of the registrant company.
7. Which one of the following items is not required to be included in a company's periodic 8-K report filed with the SEC when significant events occur?
a. Acquisition or disposition of a significant amount of assets.
b. Instigation or termination of material legal proceedings other than routine litigation incidental to the business.
c. Change in certifying public accountant.
d. Election of a new vice president of finance to replace the retiring incumbent.
e. Default in the payment of principal, interest, or sinking fund installment.