Question

What is a primary focus of the Sarbanes-Oxley Act?

Accounting standards and the registration of securities.

Regulation of the continuous reporting by publicly owned companies.

Accounting standards and registration of investment companies that engage in investing and trading in securities.

Accounting standards and penalties against persons who profit from illegal use of inside information.

Regulation of independent audit firms and audit standards.

The SEC’s role in the initial registration of securities to be publicly issued is:

Multiple Choice

• To ensure that the content of the registration filing is in compliance with securities regulations.

• To ensure that securities issued are quality investments.

• To provide data to the public regarding first-time issuance of securities.

• To give permission to an independent CPA firm to audit the registrant’s financial statements.

• To make the registrant’s annual report available for public viewing.

• Information required in proxy statements includes all except which of the following?

• Listing of company directors and executive officers.

• Description of the business activities including principal products and sources and availability of raw materials.

• Market price of the company's common stock for each quarterly period within the two most recent fiscal years.

• Five-year summary of operations including sales, total assets, income from continuing operations, and cash dividends per share.

• Two-year summary of industry segments, export sales, and foreign and domestic operations

• What is Form 10-K?

  Multiple Choice

• A quarterly report filed with the SEC.

• An annual report filed with the SEC.

• A semiannual report filed with the SEC.

• A form filed with the SEC before the company issues stock for the first time.

• A form filed with the SEC before issuing stocks to acquire another company.

Answer 1

Solution:-

1. What is a primary focus of the Sarbanes-Oxley Act:-

Regulation of independent audit firms and audit standards.

2. The SEC’s role in the initial registration of securities to be publicly issued is:

To ensure that the content of the registration filing is in compliance with securities regulations.

3. Information required in proxy statementsincludes all except which of the following:-

Two-year summary of industry segments, export sales, and foreign and domestic operations

4. What is Form 10-K:-

An annual report filed with the SEC.

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