Question 5 1 out of 1 points Small companies owned by individuals are expected to submit their annual financial reports to the Securities and Exchange Commission 1 out of 1 points Question 6 It is not compulsory for companies listed on the stock exchange to submit their financial statements to the SEC Question 7 1 out of 1 points Generally accepted accounting principles (GAAP) are developed by each company based on their type of activities 1 out of 1 points Question 8 Companies that follow all GAP and financial accounting standards would not record any error in their financial report 1 out of 1 points Question 9 The first financial report likely to be prepared by the company is the cash flow statement Tuesday, August 3.2021 9:55:07 PM GST 2