Question

Yittercorp regularly trades in securities on a national exchange. The company is a widely-held corporation with 600 shareholders and $15 million in assets. Which of the following is true concerning the company’s requirement to report to the SEC?

a)Must file annual and quarterly financial reports

b)Requirement to file depends on the company’s assets and shareholder base.

c)Not required to report information to the SEC.

d)Required to report major business developments and must file annual and quarterly financial reports.

Answer 1

Required to report major business developments and must file annual and quarterly financial reports ( D )

Step-by-step explanation:

Large companies who regularly trades in securities on a national exchange is required by law under the security and exchange commission to report major business developments and must file annual and quarterly financial reports using form 10-K and form 10-Q made available by the security and exchange commission

The U.S security and exchange commission is an independent government agency charged with the responsibility of regulating financial markets by maintaining fair and efficient market and also protecting investors

Answer 2

The Correct answer is D "Required to report major business developments and must file annual and quarterly financial reports"

Step-by-step explanation:

SEC expects organizations to fill the Form 10-K for yearly reports while Form 10-Q for their quarterly reports, and report the business advancement, for example, budgetary exchange, mergers, procurement and so forth to them consistently