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Jewelcorp just began trading securities. The company is a closely-held corporation that is not trading stock on a national securities exchange. It has several dozen

Jewelcorp just began trading securities. The company is a closely-held corporation that is not trading stock on a national securities exchange. It has several dozen shareholders and $9 million in assets. Which of the following is true concerning the company's requirement to report to the SEC?

Required to report major business developments and must file annual and quarterly financial reports.

Must file annual and quarterly financial reports; no other requirements

Not required to report information to the SEC.

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