Question

​Fresh Seasonal Fruit Company has assets of less than $10 million and fewer than fifty shareholders. Gourmand Pastries, Inc., has assets of more than $50 mil-lion and more than five hundred shareholders. The Securities Exchange Act of 1934 applies toa. Fresh Seasonal Fruit and Gourmand Pastries.b. Fresh Seasonal Fruit only.c. Gourmand Pastries only.d. neither Fresh Seasonal Fruit nor Gourmand Pastries.

Answer 1

c. Gourmand Pastries only

Step-by-step explanation:

The Securities Exchange Act of 1934 (SEA) purpose is to govern the transactions in the financial markets. It guarantees the accuracy of availed financial data and fights to eliminate fraud and manipulation in dealing.

The US securities and exchange commission( SEC), is the regulatory arm of the SEA. The SEC regulates investments instruments, professionals, and the firms that trade in the financial markets. Public listed companies must adhere to the rules and regulations set by the SEC. The acts also require SEC to monitor financial reporting of corporates that have more than $ 10 million in assets and with over 500 shareholders.