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

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

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

Problem 7MCQ

See similar textbooks

Similar questions

5. You are assigned to perform a review of minutes of meeting for the year end audit ending December 31, 2021. Which of the following agendas would least likely affect the total liabilities of the entity? Group of answer choices a. The payment of real property taxes for the year 2021 at the beginning of 2021. b. Property dividends declared on December 27, 2021. c. The approval of the board of directors of the issuance of a 5-year term bond last September 2021. d. The settlement of a pending litigation with another entity on January 5, 2022. 6. As the audit associate, you were asked by the senior associate to check the completeness of confirmation letters. Upon your review, there is a supplier that has not yet given their reply. What alternative audit procedure would most likely be performed by the audit associate, assuming the audit is at its wrap-up stage? Group of answer choices a. Perform analytical procedures b. Send another confirmation letter c. Vouch subsequent…
Which of the following documents will contain information about the compensation for Directors of a public company: The 10Q The Proxy Statement The Annual Report The outside Auditors Report
Identify each of the following as they pertain to the SEC.a. Blue sky laws.b. S–8 Statement.c. Letter of comments.d. Public Company Accounting Oversight Board.e. Prospectus.
Subsequent Events and Contingent Liabilities. Crankwell Inc. is preparing its annualfinancial statements and annual report to stockholders. Management wants to be sure thatall of the necessary and proper disclosures have been incorporated into the financial statements and the annual report. Two classes of items that have an important bearing on thefinancial statements are subsequent events and contingent liabilities. The financial statements could be materially inaccurate or misleading if proper disclosure of these items isnot made.Required:a. With respect to subsequent events1. Define what is meant by a subsequent event.2. Identify two types of subsequent events and explain the appropriate financial statement presentation of each type.3. What are the procedures that should be performed to ascertain the existence of subsequent events?b. With respect to contingent liabilities1. Identify the essential elements of a contingent liability.2. Explain how a contingent liability should be…
Parkman Sporting Goods is preparing its annual report for its 2021 fiscal year. The company’s controller has asked for your help in determining how best to disclose information about the following items:1. A related-party transaction.2. Depreciation method.3. Allowance for uncollectible accounts.4. Composition of investments.5. Composition of long-term debt.6. Inventory costing method.7. Number of shares of common stock authorized, issued, and outstanding.8. Employee benefit plans.Required:Indicate whether the above items should be disclosed (A) in the summary of significant accounting policies note, (B) in a separate disclosure note, or (C) on the face of the balance sheet.
How do you distinguish between Financial Reporting for GAAP, and full Disclosure. What is Management Discussion and Analysis. Access a public company annual report and analyze its MD&A section and how it helps the investors in their decision making process.
For a publicly owned company, indicate which of the fol-lowing accounting activities are likely to occur at or shortly after year-end. (More than one answer may be correct.)a. Preparation of income tax returns.b. Adjusting and closing of the accounts.c. Drafting of disclosures that accompany the fi nancialstatements.d. An audit of the fi nancial statements by an independentCPA fi rm.
Compilation and Review Procedures. The following numbered items 1–10 state procedures accountants should consider in review engagements and compilation engagements on the annual financial statements of nonissuers (performed in accordance with AICPA Statements on Standards for Accounting and Review Services).Required:For each item (taken separately), tell whether the item is required in all review engagements and/or required in all compilation engagements. For each item, give two responses, one regarding review engagements and the other regarding compilation engagements.1. The accountants should establish an understanding in writing with the entity’s management regarding the nature and limitations of the services to be performed.2. The accountants should make inquiries concerning actions taken at the board of directors’ meetings.3. The accountants, as the entity’s successor accountants, should communicate with the predecessor accountants to obtain access to the predecessors’ audit…
Answer of the following question related to these characteristics and constraints. National Bancorp, a publicly traded company, files quarterly and annual financial statements with the SEC. Which characteristic is relevant to the timing of these periodic filings?
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?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.
Annual reports ________. A. are required to be prepared by every corporation B. discuss the company's competitors and the risks related to the company's business C. are also called a Form 10−Q D. only include the company's financial statements