6. Which of the following is postponed for emerging growth companies?O a. Internal revenue filingsO b. Board compositionO c. 1934 Securities Act reporting requirementsO d. Submission of audited financials in their registration statements

The question is about the rules and exceptions that apply to new businesses that are growing…

Answered: 6. Which of the following is postponed…

Cornerstones of Financial Accounting

4th Edition

ISBN:9781337690881

Author:Jay Rich, Jeff Jones

Publisher:Jay Rich, Jeff Jones

Chapter12: Fainancial Statement Analysis

Section: Chapter Questions

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12. To which Organizations must a company report their financial results sells its stock on the organized stock market? a. American Institute of Certified Public Accountants (AICPA) b. Financial Accounting Standards Board (FASB) c. International Accounting Standards Board (IASB) d. Securities and Exchange Commission (SEC)
What is a registration statement?a. A statement that must be filed with the SEC before a company can begin an initial offering of securities to the public.b. A required filing with the SEC before a large amount of stock can be obtained by an inside party.c. An annual filing made with the SEC.d. A filing made by a company with the SEC to indicate that a significant change has occurred.
18. Application for a bank loan and Issuance of securities by a corporation are part of situations as a common required in report by an independent public accountant concerning the fairness of a company's financial statementsSelect one:TrueFalse
Question 8. Audit risk is composed of all of the following EXCEPT: (A) The risk of a material misstatement in an entity's financial statements prior to the start of the audit, (B) The risk of a material misstatement in management's direct or indirect assertions regarding the entity's financial statements and related disclosures. (C) The risk that a material misstatement in an assertion will not be prevented or detected and corrected by the entity's internal controls. (D) the risk that the procedures put in place by the auditor to reduce the audit risk to an acceptable low level will not actually detect a materlal misstatement. (E) The risk that the procedures put in place by the auditor will not prevent or correct non- material misstatements in management's assertions regarding the entity.
Choose the correct. What is a registration statement?a. A statement that must be filed with the SEC before a company can begin an initial offering of securities to the public.b. A required filing with the SEC before a large amount of stock can be obtained by an inside party.c. An annual filing made with the SEC.d. A filing made by a company with the SEC to indicate that a significant change has occurred.
What is the purpose of Regulation S–K? Choose the correct.a. Defines generally accepted accounting principles in the United States.b. Establishes required disclosure of nonfinancial information with the SEC.c. Establishes required financial disclosures with the SEC.d. Indicates which companies must file with the SEC on an annual basis.
7.What are the three major areas of accounting? 8.What is the purpose of the Financial Accounting Standards Board? 9.What groups consistently offer opinions about proposed FASB statements? 10.What is the function of the Securities and Exchange Commission? 11.What led to the passage of the Public Company Accounting Reform and Investor Protection Act of 2002? 12.What is the purpose of the Public Company Accounting Oversight Board?"
Which of the following is not an account appearing in the equity section of a corporation's statement of financial position? Question 18 options: Accrued liabilities. Accumulated other comprehensive income. Common shares. Contributed surplus. Financial accounting can be broadly defined as the area of accounting that prepares financial statements to be used: Question 19 options: by parties both internal and external to the business enterprise. primarily by the Canada Revenue Agency. by investors only. by parties internal to the business enterprise only.
Explain each of the following items:a. Staff Accounting Bulletins.b. Wraparound filing.c. Incorporation by reference.d. Division of Corporation Finance.e. Integrated disclosure system.f. Management’s discussion and analysis.g. Chief accountant of the SEC.
{Auditing} 36. Recognize the title of financial statement which is audited to know the total contribution of the shareholders in the company? a. Statement of financial performance b. Notes to Account c. Statement of Owner’s equity d. Statement of financial position
Which items are required by the SEC to be included in the Form 10-K? Question 14 options: Customer accounts, legal proceedings, financial statements. Executive compensation, properties, list of all shareholders by name. Financial statements and supplementary data, properties, risk factors. Legal proceedings, three-year summary of financial data, risk factors
16. The auditors' report on a corporation's financial statements usually is addressed to the president of the companySelect one:TrueFalse 18. Application for a bank loan and Issuance of securities by a corporation are part of situations as a common required in report by an independent public accountant concerning the fairness of a company's financial statementsSelect one:TrueFalse

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6. Which of the following is postponed for emerging growth companies? O a. Internal revenue filings O b. Board composition O c. 1934 Securities Act reporting requirements O d. Submission of audited financials in their registration statements