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Question 1) The SEC adopted Regulation FD, to curb public companies practice of:
Group of answer choices
A) Routinely filing extensions for annual reports (Form 10-K)
B) Selectively disclosing information
D) Hiring auditors for non-audit services such as consulting engagements
E) None of the above
Question 2) Identify which of the following items would be reported in the income statement.
| a. | Cash | d. | Wage expense | g. | Net income |
| b. | Sales | e. | Wages payable | h. | Inventory |
| c. | Long-term debt | f. | Retained earnings | i. | Cost of goods sold |
Items reported in the income statement would include:
Group of answer choices
A) b, e, g, and h
B) a, b, d, and i
C) b, e, f, and g
D) d, f, g, and h
E) b, d, g, and i
Answer & Explanation
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