Reference no: EM132961131

Problem 1. The SEC Review Process of filings is generally categorized into two different types:

Select one:

a.Mandatory and Judgmental

b.Form 10Ks and Form 10Qs

c.Objective and Subjective

d.Required and Selective

Problem 2. The SEC Staff had the following comments on Contingencies disclosures, except:

Select one:

a.Lack of specificity regarding the nature of the matter

b.Use of unclear language in disclosures

c.Inconsistency between the disclosure of the matter and the recording of the liability amount.

d.Insufficient details about judgments and assumptions underlying significant accruals

Problem 3. The SEC encourages registrants to disclose:

Select one:

a.Likelihood of failing a covenant or obtaining a waiver in the future.

b.A debt covenant ratio table that illustrates the minimum and maximum amounts permitted

c.Proforma financial statements if the registrant failed to meet covenants

d.All the terms related to covenants and how the registrant has complied with those covenants.