Question

Click on apple's form 10-q link. this is apple's quarterly report filed with the sec on 2012-04-25. based on the report, and item 1 (financial statements):

group of answer choices
A. the net sales in the three-month period that ended on march 31, 2012 were more than the net sales in the three-month period that ended on march 26, 2011.
B. the net sales in the three-month period that ended on march 31, 2012 were less than the net sales in the three-month period that ended on march 26, 2011.
C. the net sales in the three-month period that ended on march 31, 2012 was $24,667 (in millions), whereas the net sales in the three-month period that ended on march 26, 2011 was $85,519 (in millions).
D. the basic earnings per common share were $1.27 in the quarter ending on march 31, 2012. apple paid no income tax during the quarter ending on march 31, 2012.

Answer 1

Answer A is correct as it states the net sales in the quarter ending March 31, 2012, were higher than in the quarter ending March 26, 2011, according to Apple's Form 10-Q report.

Step-by-step explanation:

The accurate statement regarding Apple's financials from the given options is A: the net sales in the three-month period that ended on March 31, 2012, were more than the net sales in the three-month period that ended on March 26, 2011.

This information is derived from Apple's Form 10-Q quarterly report filed with the Securities and Exchange Commission (SEC) on April 25, 2012. In Item 1 (Financial Statements) of the report, details about the company's financial performance are provided. To be specific, the comparative analysis of net sales for the three-month periods ending on March 31, 2012, and March 26, 2011, can be found in the income statement or relevant financial schedules within the document.

Option C is incorrect as the net sales figures it presents are not in line with the officially reported financials in Apple's SEC filings. Additionally, option D lacks validity without further evidence from the document. Stating an exact earnings per share and asserting that no income tax was paid would require specific details from the financial statements, and such details are not provided in the answer choices.

In summary, the correct answer is grounded in the officially reported financial information in Apple's SEC filings, emphasizing the importance of referring to reliable and authoritative sources for accurate financial data.