Question

Are financial reports for the Securities and Exchange Commission considered to be discretionary?

1) True
2) False

Answer 1

Financial reports for the Securities and Exchange Commission (SEC) are not considered discretionary.

Step-by-step explanation:

No, financial reports for the Securities and Exchange Commission (SEC) are not considered to be discretionary. The SEC requires certain companies to file regular financial reports, such as the quarterly 10-Q and annual 10-K reports. These reports provide information about a company's financial performance and are mandated by law. Companies must adhere to specific deadlines and reporting standards set by the SEC, making these reports non-discretionary.