Periodic reporting requirements

Which statement below isfalseconcerning quarterly reports filed with the SEC?

Select one:

a) Quarterly financial statements may combine accounts that are reported separately in the annual report.

b) Quarterly reports are not designed to forecast the next annual report, but are intended to provide investors with updates to the most recently filed annual report.

c) Firms required to file an annual report with the SEC must also file quarterly reports.

d) The quarterly report's financial statements consist of only two documents: (1) comparative balance sheets, and (2) comparative income statements.