Soft Bound Version for Advanced Accounting 13th Edition
13th Edition
ISBN: 9781260110579
Author: Hoyle
Publisher: McGraw Hill Education
expand_more
expand_more
format_list_bulleted
Question
Chapter 12, Problem 13P
To determine
Identify the correct option for the definition of letter of comments.
Expert Solution & Answer
Want to see the full answer?
Check out a sample textbook solution
Students have asked these similar questions
What is a letter of comments?a. A letter the SEC sends to a company indicating needed changes or clarifications in a registration statement.b. A questionnaire supplied to the SEC by a company suggesting changes in Regulation S–X.c. A letter included in a Form 10–K to indicate the management’s assessment of the company’s financial position.d. A letter composed by a company asking for information or clarification prior to the filing of a registration statement.
Choose the correct. What is a letter of comments?a. A letter the SEC sends to a company indicating needed changes or clarifications in a registration statement.b. A questionnaire supplied to the SEC by a company suggesting changes in Regulation S–X.c. A letter included in a Form 10–K to indicate the management’s assessment of the company’s financial position.d. A letter composed by a company asking for information or clarification prior to the filing of a registration statement.
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.
Chapter 12 Solutions
Soft Bound Version for Advanced Accounting 13th Edition
Ch. 12 - Prob. 1QCh. 12 - Prob. 2QCh. 12 - Prob. 3QCh. 12 - Prob. 4QCh. 12 - Prob. 5QCh. 12 - Prob. 6QCh. 12 - Prob. 7QCh. 12 - Prob. 8QCh. 12 - Prob. 9QCh. 12 - Prob. 10Q
Ch. 12 - Prob. 11QCh. 12 - Prob. 12QCh. 12 - Prob. 13QCh. 12 - Prob. 14QCh. 12 - Prob. 15QCh. 12 - Prob. 16QCh. 12 - Prob. 17QCh. 12 - What is the purpose of Financial Reporting...Ch. 12 - Prob. 19QCh. 12 - What is the purpose of a registration statement?Ch. 12 - Prob. 21QCh. 12 - Prob. 22QCh. 12 - Prob. 23QCh. 12 - Prob. 24QCh. 12 - Prob. 25QCh. 12 - What is a prefiling conference, and why might it...Ch. 12 - Prob. 27QCh. 12 - Prob. 28QCh. 12 - Prob. 29QCh. 12 - Prob. 30QCh. 12 - Prob. 31QCh. 12 - Prob. 32QCh. 12 - Prob. 33QCh. 12 - What is the purpose of the Managements Discussion...Ch. 12 - Prob. 35QCh. 12 - Prob. 36QCh. 12 - Prob. 1PCh. 12 - Prob. 2PCh. 12 - Prob. 3PCh. 12 - Prob. 4PCh. 12 - Prob. 5PCh. 12 - Prob. 6PCh. 12 - Prob. 7PCh. 12 - Prob. 8PCh. 12 - Which of the following is a registration statement...Ch. 12 - Prob. 10PCh. 12 - Prob. 11PCh. 12 - Prob. 12PCh. 12 - Prob. 13PCh. 12 - Prob. 14PCh. 12 - Prob. 15PCh. 12 - Prob. 16PCh. 12 - Prob. 17PCh. 12 - Prob. 18PCh. 12 - Prob. 19PCh. 12 - Prob. 20PCh. 12 - Prob. 21PCh. 12 - Prob. 22PCh. 12 - Prob. 23PCh. 12 - Prob. 24PCh. 12 - Prob. 25PCh. 12 - Prob. 26PCh. 12 - Explain each of the following items: a. Staff...Ch. 12 - Prob. 28PCh. 12 - Prob. 1DYSCh. 12 - Prob. 2DYSCh. 12 - Prob. 3DYSCh. 12 - Prob. 4DYS
Knowledge Booster
Similar questions
- The accounting and auditing literature discusses several different types of accounting changes. For each of the changes listed below (a. through c.), indicate whether the auditor should add a paragraph to the audit report, assuming that the change had a material effect on the financial statements and was properly justified, accounted for, and disclosed. Assume that the organization is a U.S. non-public company. a. Change from one GAAP to another GAAP b. Change in accounting estimate not affected by a change in accounting principle c. Change in accounting estimate affected by a change in accounting principle d. Correction of an error c. Change from non-GAAP to GAAP (a special case of correction of an error)arrow_forwardOne of your friends remarks, I understand that before voting on an Update to Accounting Standards, the FASB allows written comments and oral presentations in which interested parties can lobby for a particular ruling. Do you think this is a good idea? Required: Prepare a written response that discusses the advantages and disadvantages of the FASBs allowing interested parties to provide input to its deliberative process.arrow_forwardDescribe a change in a reporting entity. How does a company account for such changes?arrow_forward
- What is a prospectus?a. A document attached to a Form 8–K.b. A potential stockholder as defined by Regulation S–K.c A document a company files with the SEC prior to filing a registration statement.b. The first part of a registration statement that a company must furnish to all potential buyers of a new security.arrow_forwardThe accounting and auditing literature discusses several different types of accounting changes. For each of the changes listed below (a. through e.), indicate whether the auditor should add a paragraph to the audit report, assuming that the change had a material effect on the financial statements and was properly justified, accounted for, and disclosed. Assume that the organization is a U.S. nonpublic company. a. Change from one GAAP to another GAAP b. Change in accounting estimate not affected by a change in accounting principle c. Change in accounting estimate affected by a change in accounting principle d. Correction of an error e. Change from non-GAAP to GAAP (a special case of correction of an error)arrow_forwardThe accounting and auditing literature discusses several different types of accounting changes. For each of the changes listed below (a. through e.), indicate whether the auditor should add a paragraph to the audit report, assuming that the change had a material effect on the financial statements and was properly justified, accounted for, and disclosed. Assume that the organization is a U.S. nonpublic company. a. Change from one GAAP to another GAAP b. Change in accounting estimate not affected by a change in accounting principle c. Change in accounting estimate affected by a change in accounting principle d. Correction of an error e. Change from non-GAAP to GAAP (a special case of correction of an error) PLEASE ANWSER ONLY SECTION D & E THANK YOU!arrow_forward
- Most companies are required to have an audit and appoint an auditor. (a) Explain how an auditor can be appointed.(b) Discuss what are the auditor's rights and duties in a company.arrow_forwardYou have recently been appointed as auditor to Johnson Plc; a company whoseshares are traded on the Stock Exchange. The Directors of Johnson Plc haverecommended that you perform the following services .(i) The statutory audit of the annual financial statements.(ii) Taxation services, and(iii) Consistency services in respect of the implementation of a new informationtechnology systemYour firm has not acted for Johnson Plc before but does act as auditor for one of themajor competitors.Required. (b) What are the fundamental principles of ethics? Briefly explain their meaningarrow_forwardIdentify each of the following as they pertain to the SEC. Choose the correct.a. Blue sky laws.b. S–8 Statement.c. Letter of comments.d. Public Company Accounting Oversight Board.e. Prospectus.arrow_forward
arrow_back_ios
arrow_forward_ios
Recommended textbooks for you
Auditing: A Risk Based-Approach to Conducting a Q...AccountingISBN:9781305080577Author:Karla M Johnstone, Audrey A. Gramling, Larry E. RittenbergPublisher:South-Western College Pub
Financial Accounting: The Impact on Decision Make...AccountingISBN:9781305654174Author:Gary A. Porter, Curtis L. NortonPublisher:Cengage Learning
Auditing: A Risk Based-Approach (MindTap Course L...AccountingISBN:9781337619455Author:Karla M Johnstone, Audrey A. Gramling, Larry E. RittenbergPublisher:Cengage Learning
Intermediate Accounting: Reporting And AnalysisAccountingISBN:9781337788281Author:James M. Wahlen, Jefferson P. Jones, Donald PagachPublisher:Cengage LearningCentury 21 Accounting Multicolumn JournalAccountingISBN:9781337679503Author:GilbertsonPublisher:Cengage
Auditing: A Risk Based-Approach to Conducting a Q...
Accounting
ISBN:9781305080577
Author:Karla M Johnstone, Audrey A. Gramling, Larry E. Rittenberg
Publisher:South-Western College Pub
Financial Accounting: The Impact on Decision Make...
Accounting
ISBN:9781305654174
Author:Gary A. Porter, Curtis L. Norton
Publisher:Cengage Learning
Auditing: A Risk Based-Approach (MindTap Course L...
Accounting
ISBN:9781337619455
Author:Karla M Johnstone, Audrey A. Gramling, Larry E. Rittenberg
Publisher:Cengage Learning
Intermediate Accounting: Reporting And Analysis
Accounting
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:Cengage Learning
Century 21 Accounting Multicolumn Journal
Accounting
ISBN:9781337679503
Author:Gilbertson
Publisher:Cengage