Advanced Accounting 14th Edition
14th Edition
ISBN: 9781260726442
Author: By Joe Ben Hoyle And Thomas Schaefer And Timothy Doupnik
Publisher: Mc Grawhill Education
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Question
Chapter 12, Problem 15P
To determine
Identify the correct option for the statement which is not exempt from registration with the SEC under the Securities Act of 1933.
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Choose the correct. Which of the following is not exempt from registration with the SEC under the Securities Act of 1933?a. Securities issued by a nonprofit religious organization.b. Securities issued by a government unit.c. A public offering of $40 million to unaccredited investors under Regulation A.d. An offering to 40 sophisticated investors.
Choose the correct.The Securities Exchange Act of 1934:a. Regulates the public trading of previously issued securities through brokers and exchanges.b. Prohibits blue sky laws.c. Regulates the initial offering of securities by a company.d. Requires the registration of investment advisers
7. According to the 1934 Securities Act, select ALL who must certify the quarterly and
annual financial statements for a company.
a. The chief executive officer of the company
b. An external auditor hired by the company
c. The chief financial officer of the company
С.
d. A representative of the Securities and Exchange Commission (SEC)
8. Select ALL of the following that are required in a proxy statement.
a. How the proxy materials will be sent
b. How much is expected to be spent on the solicitation
c. Who the shareholders for the proxy are
Od. Who is soliciting the proxy
Chapter 12 Solutions
Advanced Accounting 14th 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. 28P
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Similar questions
- O The portion of the financial statements examined by the other CPA. Perisic Investments is an entity in the mutual funds industry, which provides a group of mutual funds for investors. The components of the corporation's financial statements are: Net Income Before Taxes = $200,000, Total Assets = $20,000,000, The Tolerable misstatement set by the auditor is: 10,000 O 5,000 O 100,000 50,000 In auditing the Investments in Subsidiary account, the auditor was unable to obtain audited financial statements for anarrow_forward1 The most important exemption from the prospectus requirement are the "Accredited Investors" provisions in the Securities Act. Who are defined as Accredited Investors? Multiple Choice Banks and investment dealers. Individuals and their spouses owning net financial assets exceeding $1 million; and individuals who, either alone or with a spouse, have net assets of at least $5 million. Banks, investment dealers and governments. All of these are accredited investors. Governments.arrow_forwardThe Securities Exchange Act of 1934a. Regulates the public trading of previously issued securities through brokers and exchanges.b. Prohibits blue sky laws.c. Regulates the initial offering of securities by a company.d. Requires the registration of investment advisers.arrow_forward
- Which of the following is not one of the five primary responsibilities of the Securities and Exchange Commission (the SEC)? A. inform and protect investors B. regulate securities law C. facilitate capital formation D. assure that dividends are paid by corporationsarrow_forwardWhich of the following is the best definition of a public issue? Multiple Choice Legal document describing details of the issuing corporation and the proposed offering to potential investors. A new issue of securities by a firm that has already issued securities in the past. The creation and sale of securities on public markets. A preliminary prospectus distributed to prospective investors in a new issue of securities. A company’s first equity issue made available to the public. Also an unseasoned new issue.arrow_forwardAble Corporation decided to make a public offering of bonds to raise needed capital. It publicly sold $2,500,000 of 8% debentures in accordance with the registration requirements of the Securities Act of 1933. The financial statements filed with the registration statement contained the unqualified opinion of Baker & Baker, CPAs. The financial statements overstated Able’s net income and net worth. Through negligence, Baker & Baker did not detect the overstatements. As a result, the bonds, which originally sold for $1,000 per bond, have dropped in value to $700. Ira is an investor who purchased $10,000 of the bonds. He promptly brought an action against Baker & Baker under the Securities Act of 1933. Answer the following, providing reasons for your conclusions: a. Will Ira likely prevail on his claim under the Securities Act of 1933? b. Identify the primary issues that will determine the likelihood of Ira’s prevailing on the claim.arrow_forward
- Which of the following is not true of a registration statement? A . It helps the SEC make judgments about the worth of securities. B. It contains financial statements certified by independent public accountants. C. It provides information about the management of the company. D. It is different for different types of companies that offer securities for sale.arrow_forwardChoose 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.arrow_forward19- Which of the following accounts includes securities acquired for long-term purposes and capital shares acquired for the purpose of becoming a partner in another business ? a) 23 Other Receivables Account Group B) 24 Financial Fixed Assets Account Group NS) 13 Other Receivables Account Group D) 12 Trade Receivables Account Grouparrow_forward
- 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.arrow_forwardA company had excess funds at the beginning of 2021. The investment committeedecided to purchase marketable securities, the sale and acquisition of investmentswere delegated to a certain company official. The best person to make periodicreviews of the investments activity would be the: choices: Chief operating officerTreasurerCorporate controllerThe investment committeearrow_forwardWhich of the following statements are true?I. Non-compliance with IAS 34 indicated that the entity does not comply with the requirements of IAS 1.II. IAS 34 requires entities whose equity or debt securities are traded in a public capital market to publish interim reports at least as of the end of the first half of the financial year. Note: In Philippine settingsarrow_forward
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