47. Section 5 of the Securities Act of 1933 provides that if a security does not qualify for an exemption, the security must be registered with the Securities and Exchange Commission (SEC) before sale or issuance of any stock.Which item of disclosure would probably be excluded (i.e., not covered) in the contents of a Registration Statement filed with the SEC

a.A description of the corporation's property and business.

b.How the corporation intends to use the funds raised in the stock offering.

c.Description of pending lawsuits.

d.Marketing information.

48.Which of the following might not be an example of a material fact calling for disclosure under the Securities Act of 1934

a.Appointment of a new chief executive officer

b.A contract for the sale of company assets.

c.A new discovery in biomedical science.

d.Renovation of a key manufacturing facility.

49. Anyone who acquires inside information as a result of a corporate insider's breach can be held liable under SEC Rule 10b-5 (Securities Act of 1934) as a "tippee".Which is not a requirement that must be met to hold the "tippee" (i.e., recipient of the insider information) liable for insider trading violations

a.Insider ("tipper") breached a fiduciary duty not to disclose inside information.

b.The recipient ("tippee") has a personal relationship with the provider ("tipper") of the inside information.

c.The tippee recipient knows (or should have known) of the insider's breach of duty and benefits from it.

d.The disclosure is made in exchange for personal benefit.

50.In 2002, Congress passed the Sarbanes-Oxley Act in response to a series of corporate scandals.Which is not a provision of the Sarbanes-Oxley Act

a.Chief corporate executives must take personal responsibility for the accuracy of financial statements and reports filed with the SEC.

b.Public accounting firms are subject to regulation by the Public Company Accounting Oversight Board.

c.All members of a publicly traded corporation's audit committee must be outside directors.

d.Whistleblowers must comply with internal company procedures before reporting any violations to outside agencies.